Thruvision revenue grows amid Asia boost; focus on investing in sales

(Alliance News) - Thruvision Group PLC on Wednesday said that it has been underpinned by a "strong" performance in Asia as annual revenue grew as expected.

The Abingdon, England-based provider of walkthrough people-screening technology said revenue jumped 45% to GBP6.0 million in the financial year ended March 31, from GBP4.2 million a year ago.

This was in line with expectations announced in November of revenue between GBP5 million and GBP7 million.

The order backlog as at March 31 was GBP1.3 million, with order intake for financial 2026 of GBP7.1 million.

Cash as at March 31 was GBP2.0 million, up from GBP374,000 a year prior.

Thruvision said its revenue "has been underpinned by strong performance in Asia where the award of two material orders totaling GBP2.7 million formed the bulk of the regional revenue. Our indirect sales strategy in Asia is based on a small number of strong regional partnerships, which we intend to strengthen further over time. The UK and Europe were weaker than FY25, despite strong performance in the Prisons market."

Meanwhile, the US grew modestly amid "strong" performance from aviation, while retail distribution in the US was weaker than expected. The firm said: "We are addressing this with investment in our direct sales force which we expect to lead to a significant improvement in FY27."

Chief Executive Officer Victoria Balchin said: "It's very pleasing to see a return to revenue growth as the steps we have taken to improve both our direct sales force and our partnerships start to take effect. Whilst work remains to be done, our new 81 Series product has been enthusiastically received and the benefits of deploying Thruvision are increasingly appreciated across our markets. Our challenge is now one of investing in our sales and marketing capability and this is the central focus of the team as we start our new year."

Thruvision shares rose 0.6% to 0.88 pence each on Wednesday morning in London.

By Tom Budszus, Alliance News slot editor

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