Thruvision Group PLC Sales Progress Update

RNS Number : 9805A

Thruvision Group PLC

26 January 2024

 

26 January 2024

Thruvision Group plc

 

Sales Progress Update

 

Thruvision (AIM: THRU, "Thruvision" or the "Group"), the leading provider of walk-through security technology, has continued to see good order flow in the period since the announcement of Thruvision's Interim Results on 20 November 2023. This demand is across its various geographic markets and from a mixture of new and existing customers.

 

In Retail Distribution, interest in the Group's flagship "WalkTHRU" security technology, which enables very high numbers of people per hour to be screened for all types of concealed item, continues to grow. WalkTHRU has recently been selected by an important new customer, a global sports apparel brand, as the core component of its security upgrade programme in its US distribution centres. In addition to screening employees for items being stolen as they leave at the end of a shift, Thruvision will also be used check employees for weapons as they enter. In addition, further WalkTHRU lane orders have also been received recently from two existing FTSE 100 UK retailer customers.

 

In Entrance Security, further units have recently been ordered by a European prison service and a Gulf state, both of which are existing customers. In our Customs market, an existing Asian agency customer has also ordered further systems from the Group.

 

These orders total £1.3 million, all of which is expected to be delivered in the second half of the Group's financial year.

 

Colin Evans, Chief Executive, commented:

 

"We continue to make good progress in rolling out our technology to the retail distribution and entrance security markets. In particular, the recent order from a global sports apparel brand for use in its US operations is another major step forward in Retail Distribution, our largest potential market.

 

"These recent wins, together with our current sales pipeline, underpins our confidence in meeting our full-year revenue expectations."

 

For further information please contact:

 

Thruvision Group plc                                                                                                      [phone]

Colin Evans, Chief Executive

Victoria Balchin, Chief Financial Officer

 

Investec Investment Banking (NOMAD & Broker)                                                    [phone]

Patrick Robb / James Rudd

 

Meare Consulting                                                                                                           [phone]

Adrian Duffield

 

About Thruvision (www.thruvision.com)

 

Thruvision is the leading developer, manufacturer and supplier of walk-through security technology. Its technology is deployed in more than 20 countries around the world by government and commercial organisations in a wide range of security situations, where large numbers of people need to be screened quickly, safely and efficiently. Thruvision's patented technology is uniquely capable of detecting concealed objects in real time using an advanced AI-based detection algorithm. The Group's offices are near Oxford and Washington DC.

 

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