If the market for aroma measurement takes off, it looks as if AromaScan Plc will be at the forefront. The Crewe, Cheshire company has progessed satisfactorily in its first half, trimming losses and pushing turnover ahead strongly. AromaScan manufactures electronic olfactory sensing equipment and came to London’s Unlisted Securities Market back in August 1994. It has generally been on the up since then, with a few glitches as new technology has drifted in and out of fashion with fickle investors. Net and pre-tax losses for the six months to October 31 were down to #683,000, from #819,000 last time. Turnover was up to #1.7m, from just #62,000 a year ago, and was 53% ahead of the previous quarter. The company signed two marketing agreements in the half. The first was with Kirin Brewery Co’s Yokohama-based Kirin Techno-Systems. Kirin has agreed to purchase a minimum of 110 systems over the next three years, with an option for a further two years and 100 more systems. If all 210 are taken, it will bring in #3.7m of business. The other deal was with A/S Foss Electrics Holding of Hillerod, Denmark. Foss has got worldwide distribution rights outside Japan for the dairy, meat and grain markets and non-exclusive rights for other industries in countries where the company has wholly-owned subsidiaries. Foss has agreed to buy a minimum of 130 systems over three years with a two-year, 100-system extension option. The total prospective sales would be #4.8m. Chairman Harold Morley said the company was in discussions with other prospective alliance partners. There are now three AromaScanner systems models, with the multi-sample version launched last November. These cost #48,000 each and orders have been won for several units from UK customers. Development of the product was completed on time, said the company. Managing director Allan Syms said progress in this half should be sufficient to push the company into the black by the end of the half, if not overall. He sees turnover between #4m and #5m next time. The firm continues to pay no dividend.
