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0.725 0.00 (0.00%)

Bid:

0.70

Ask:

0.75

Spread: 0.05 (7.143%)

Market Cap: £3.24m

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Thruvision reports solid first-half of trading

Wed, 12th Oct 2022 12:36

(Sharecast News) - People-screening technology company Thruvision said in a trading update on Wednesday that its first-half revenues were expected to be £2.8m, representing growth of 41% year-on-year.

The AIM-traded firm said it currently had an order backlog for equipment totalling $8.3m and expected most, if not all, of that to be delivered to revenue during its second half.

Cash as at 30 September totalled £1.1m, and had since grown to stand at £3.1m by 11 October.

"The group is entering a new phase in its development," the board said in its statement.

"With the strategically significant purchasing framework now in place with CBP; a material order backlog in place for our second half; and the balance of opportunities we see across our various end markets, we expect to deliver strong growth this financial year.

"The board expects that the strong growth we are experiencing will allow us to achieve our objective of breaking even this financial year."

At 1154 BST, shares in Thruvision Group were up 2.36% at 23.85p.

Reporting by Josh White at Sharecast.com.