County Durham tech innovator Kromek is toasting record revenues after seeing sales rise 44% to top £17m on the back of a raft of new ‘milestone’ contracts and agreements.
The NETPark based company has issued final results for the year ended April 30 2023, hailing a number of significant agreements and deals, taking revenues to £17.3m, which it said demonstrates that its strategy is “coming to fruition”.
The Sedgefield business, which develops and manufactures radiation and bio-detection technology solutions, saw pre-tax losses widen from £6.12m to £7.3m. However, due to cost control measures and significantly improved gross margin in the second half of the year, the group delivered positive adjusted Ebitda of £1.7m in the second half. Staff numbers grew in the year from an average of 154 employees to 173, increasing staff costs from £9.5m to £11.16m.
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