Thruvision Group PLC Pre-close Trading Update (7584U)
April 02 2019 - 2:01AM
UK Regulatory
TIDMTHRU
RNS Number : 7584U
Thruvision Group PLC
02 April 2019
2 April 2019
Thruvision Group plc
("Thruvision" or the "Group")
Pre-close 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 year to 31 March
2019.
Good momentum was maintained across all four of the Group's key
markets, with a further 50 units delivered to customers in H2. This
brought the full year total to 109 units (FY18: 57 units) with
revenues expected to be in the order of GBP6.0 million (FY18:
GBP3.1 million). Cash at 31 March 2019, following the return of
cash to shareholders in August 2018, was GBP9.4 million (31 March
2018: GBP17.4 million).
Second half sales included a third order from an existing Asian
government customer for transportation security, repeat orders from
four existing Loss Prevention customers (Next, Sony, Boots and
Hermes), and Matalan becoming a new customer. Good progress was
made in our Customs market with UK Border Force, US State
Department's Bureau of International Narcotics and Law Enforcement
Affairs and a national European Customs agency all purchasing units
for the first time.
Our sales pipeline continues to build, especially in the US.
Although activity here was affected by the government shutdown
early in 2019, several initiatives in the Customs and Aviation
Security markets are now gathering momentum and our broader
strategic sales pipeline in these areas continues to strengthen.
Manufacturing ramp up by our US partner company has been
successful.
The combination of new customer wins, strong progress in the US
and repeat customer purchases in both our Asia and Loss Prevention
markets, supports the Board's confidence in the strategic prospects
for the Group.
For further information please contact:
Thruvision Group plc +44 (0)20 3553 5888
Tom Black, Executive Chairman
Colin Evans, Managing Director
Investec Investment Banking (NOMAD & Broker) +44 (0)20 7597 5970
Andrew Pinder / Sebastian Lawrence / Patrick Robb
FTI Consulting LLP +44 (0)20 3727 1000
Matt Dixon / Harry Staight
About Thruvision
Thruvision Group plc is a specialist provider of
people-screening technology that can safely see weapons, explosives
and contraband hidden in peoples' clothing. Developed with
extensive support from the British and US Governments, Thruvision
technology is operationally proven and is being used to enhance the
security of transport hubs, borders, high profile buildings and
public areas.
www.thruvision.com
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END
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