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Pin to quick picksThruvision Grp Regulatory News (THRU)

Share Price Information for Thruvision Grp (THRU)

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Trading Update

3 Oct 2019 07:00

RNS Number : 5890O
Thruvision Group PLC
03 October 2019
 

3 October 2019

 

Thruvision Group plc

 

("Thruvision" or the "Group")

 

Trading Update

 

 

Thruvision (AIM: THRU) the specialist provider of people-screening technology to the international security market, is pleased to provide an update on trading for the six months ended 30 September 2019, the first half of the Group's financial year.

 

The Group has continued to drive good commercial momentum, with revenues increasing by 50% to £4.8 million (H1 FY19: £3.2 million). This was based on delivering 64 units to customers (H1 FY19: 60), of which a greater proportion in this period were high-end units helping to deliver stronger revenues and gross margins than in prior years. Cash at 30 September 2019 remained healthy at £8.7 million (31 March 2019: £9.4 million).

 

Sales momentum was particularly strong in our Customs market segment. Thruvision's combined strengths of safe and non-intrusive technology, along with an ability to reliably detect non-metallic items like drugs and bank notes, is helping to cement the Group's leading position in this international market. During the period Macau Customs and US Customs and Border Protection became our seventh and eighth customers respectively, while Hong Kong Customs and the US State Department's Bureau of International Narcotics & Law Enforcement Affairs both returned to purchase additional units in the period.

 

Good strategic progress continued to be made in our aviation segment with Thruvision being purchased by Los Angeles International Airport for employee screening purposes, and further technical progress made toward being approved for use in passenger screening in US airports by the TSA's Innovation Task Force.

 

In Loss Prevention, Morrisons became an important new customer in the grocery sector. Following this important win, the Group's new Loss Prevention sales team has significantly strengthened its sales pipeline in this area, with existing customers continuing to report a rapid return on investment when purchasing Thruvision units.

 

Growing international brand recognition, strategic progress across the US Federal Government, healthy R&D, and a strengthening sales pipeline re-affirms the Board's confidence in the prospects for the Group.

 

 

For further information please contact:

 

Thruvision Group plc +44 (0)1235 425400

Tom Black, Chairman

Colin Evans, Chief Executive

 

Investec Investment Banking (NOMAD & Broker) +44 (0)20 7597 5970

Sebastian Lawrence / Patrick Robb / James Rudd

 

FTI Consulting LLP +44 (0)20 3727 1000

Matt Dixon / Shamma Kelly

 

 

 

About Thruvision

Thruvision is the leading provider of next-generation people-screening technology. Using patented passive terahertz technology, Thruvision is uniquely capable of detecting metallic and non-metallic threats including weapons, explosives and contraband items that are hidden under clothing, at distances up to 10m.

 

Addressing the growing need for fast, safe and effective security, Thruvision has been vetted and approved by the US Transportation Security Administration for surface transportation. Operationally deployed in 20 countries around the world, Thruvision is used for a range of applications including mass transit and aviation security, facilities and public area protection, customs and border control and supply chain loss prevention. The company has offices near Oxford, in Washington DC, and in Sydney.

 

www.thruvision.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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TSTLLFETIILFIIA
Date   Source Headline
19th Nov 20197:00 amRNSNotice of Interim Results
13th Nov 20193:28 pmRNSHolding(s) in Company
24th Oct 20197:00 amRNSSharesave option grant to Executive Director
8th Oct 20192:00 pmRNSAward of Share Options to Executive Directors
3rd Oct 20197:00 amRNSTrading Update
23rd Sep 20191:29 pmRNSResult of Annual General Meeting
23rd Sep 20197:00 amRNSContract award announcement
16th Sep 20193:36 pmRNSThruvision trialed in London Underground station
8th Jul 20192:14 pmRNSNotice of Audited Results
24th Jun 20197:00 amRNSResults for the Year ended 31 March 2019
20th Jun 20197:00 amRNSNotice of Results
22nd May 20197:00 amRNSContract award announcement
1st May 20197:00 amRNSAppointment of Finance Director
2nd Apr 20197:00 amRNSPre-close Trading Update
7th Feb 20197:00 amRNSCapital Markets Day
18th Jan 20194:02 pmRNSAward of Share Options to Executive Directors
10th Dec 20187:00 amRNSInterim Results
3rd Dec 201812:52 pmRNSNotice of Results
2nd Nov 20181:24 pmRNSTSA Concept of Operations Development Contract
3rd Oct 20187:00 amRNSTrading Update
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21st Sep 201810:21 amRNSAGM Statement
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24th Aug 20189:19 amRNSAmendment - Holding(s) in Company
22nd Aug 201811:30 amRNSHolding(s) in Company
21st Aug 201810:52 amRNSHolding(s) in Company
20th Aug 20183:04 pmRNSHolding(s) in Company
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9th Aug 201812:30 pmRNSAnnouncement of Results of Tender Offer
31st Jul 20189:00 amRNSHolding(s) in Company
24th Jul 201810:21 amRNSResults of General Meeting/Tender Offer
4th Jul 20187:00 amRNSProposed Tender Offer & Notice of General Meeting
26th Jun 20187:00 amRNSAudited results for the full year 31 March 2018
21st Jun 201811:26 amRNSNotice of Audited Results
1st May 20183:53 pmRNSCapital Reduction Effective
28th Mar 20183:25 pmRNSResult of General Meeting
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15th Mar 20187:00 amRNSDirector/PDMR Shareholding
15th Mar 20187:00 amRNSAward of Share Options to Executive Director
13th Mar 20185:29 pmRNSHolding(s) in Company
13th Mar 20183:40 pmRNSHolding(s) in Company
13th Mar 20183:17 pmRNSHolding(s) in Company
12th Mar 20182:05 pmRNSSecond Price Monitoring Extn
12th Mar 20182:02 pmRNSPrice Monitoring Extension
12th Mar 20187:01 amRNSShare Premium Account & Capital Redemption Reserve
12th Mar 20187:00 amRNSTrading Update & Return of Capital
8th Mar 20184:48 pmRNSHolding(s) in Company
27th Feb 20183:21 pmRNSHolding(s) in Company

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