As the acronym suggests, Kromek’s technology in the CBRN segment detects a wide range of threats, from radiological to biological hazards. These are united by two common themes: practicability – making ultra-high performance detection devices compact, robust and easily-deployed – and connectivity – enabling data sharing and analysis, to facilitate rapid response. A number of recent events and reports around the world serve as a timely reminder that Kromek’s CBRN technology has urgent practical application – in both Radiological detection and Biohazard detection. At the start of FY23, Kromek noted that it expected “a substantial year-on-year increase in revenue”. H1 results and prospects for the second half reaffirm this outlook, indicative of >40%YoY growth, to record revenue levels. In addition, we anticipate that the inflationary, exchange rate and supply chain pressures which impacted H1 23 profitability having stabilised will continue to ease. Our forecasts remain unchanged, as does our Fair Value of 26p / share.