Kromek points to ‘strong progress’ as revenues rise in key markets

The County Durham detection technology firm saw a fall in profitability but says it has ‘positive momentum’ for the year ahead

Detection technology company Kromek has hailed a year of “strong operational and commercial progress” despite seeing a fall in profitability.

The County Durham firm has released final results for the year to the end of April which show that its revenues rose slightly to £27.1m. But operating profits fell in the same period, going from £4.7m a year earlier to £2.9m.

2025 had been a breakthrough year for the NETPark company as it turned years of leading-edge science into profit for the first time. The company has maintained profitability and said it had seen particular growth in its advanced imaging and CBRN (chemical, biological, radiation and nuclear) detection divisions.

Around half the group’s revenues came in North America, but it saw 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.”

The company, which has manufacturing operations in the UK and the US after spinning out of research at Durham University, has been recognised for its commitment to innovation, and now holds more than 190 patents globally. As well as contracts with global Governments and defence organisations, it is working with Newcastle Upon Tyne Hospitals NHS Foundation Trust, Newcastle University and University College London on new technology to better detect breast cancer.