Last checked at 3 Oct 2018 07:00
3 October 2018
Thruvision Group plc
("Thruvision" or the "Company")
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 half year ended 30 September 2018.
The Company continued to make strong progress, delivering a total of 60 units during the period to both new and existing customers, with repeat orders from the Philippines, Vietnam and China. This compares to 57 units for the full year ended 31 March 2018.
The Group retained its focus on four key markets - Transportation, Entrances, Customs and Loss Prevention - and has achieved good progress across each of these areas.
Key new customers within Transportation include the US Transportation Security Administration's Innovation Task Force, who are tasked with developing new, higher passenger throughput airport security capability, and Los Angeles Metro, where Thruvision units are being deployed to help detect and deter acts of terrorism. In the Entrances market, the Group supplied units to a newly opened conference centre in China. New customers within Loss Prevention include Sony, where Thruvision is helping to protect the three million discs it produces daily.
Plans to expand production also progressed well with the Group's US manufacturing partner, based near Cape Canaveral in Florida, producing its first units.
Cash at 30 September 2018 was £12.6m after returning £3.5m to shareholders via the tender offer in August.
It is anticipated that interim results will be announced in December.
Commenting on the update, Colin Evans, Managing Director, said:
"We are pleased with the progress we have made so far this year. We continue to deliver new units to existing customers, but we are also winning new customers across a variety of geographies and markets, with particular success in Transportation and Loss Prevention. This, combined with our deepening relationship with TSA and the very high profile nature of the LA Metro deployment is testament to the international appeal of our solution and the scale of the opportunity ahead."
For further information please contact:
Thruvision Group plc | +44 (0)1235 436180 |
Tom Black, Executive Chairman Colin Evans, Managing Director |
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Investec Bank plc | +44 (0)20 7597 5970 |
Andrew Pinder / Sebastian Lawrence / Patrick Robb |
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FTI Consulting LLP | +44 (0)20 3727 1000 |
Matt Dixon / Harry Staight |
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About Thruvision
Thruvision Group plc is a specialist provider of 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. More than 200 units have been deployed worldwide over the last five years for applications including mass transit and aviation security, facilities and public area protection, customs and border control and supply chain loss prevention.
www.thruvision.com