Kromek reports "strong operational, commercial progress" despite profit fall
The British detection company Kromek has announced a 2025-2026 financial year of "strong operational and commercial progress" despite a fall in profitability.
The company, based in County Durham, north-east England, reported that its revenues rose slightly to £27.1m, however operating profits fell from £4.7m a year to £2.9m.
AOL reported that 2025 had been a "breakthrough year" for Kromek as it turned a profit for the first time. The company stayed profitable, despite the fall, and said it had seen particular growth in its advanced imaging and CBRN detection divisions with particular growth in the UK, Europe and Asia.
CEO Dr Arnab Basu said: "FY 2026 was a year of strong operational and commercial progress for Kromek. We delivered increased revenue, with significant underlying growth in Advanced Imaging and further growth in CBRN Detection, reflecting increased delivery on long-term customer programmes, new order wins and the continued expansion of our international distributor network.
"We also made further progress with major OEMs in next-generation medical imaging, secured an initial order under the UK Government's Radiological Nuclear Detection Framework, and continued to invest in manufacturing capability, automation and our intellectual property portfolio.
"We enter FY 2027 with positive momentum, supported by a healthy order book, an encouraging commercial pipeline and strong engagement with customers across both divisions.
"As demand develops for our Advanced Imaging technologies and government and security customers continue to invest in CBRN detection capabilities, we expect to deliver results in line with market expectations, including significant revenue growth in both divisions, while maintaining disciplined cost control and investment in key growth opportunities. Accordingly, the board continues to look forward to the year ahead with confidence."
