REG - Thruvision Group PLC - Pre-close Trading Update

ThruvisionAnnouncement

07/10/2020 07:00

RNS Number : 2993B
  
Thruvision Group PLC
  
07 October 2020
  
 

7 October 2020
 
Thruvision Group plc
 
("Thruvision" or the "Group")
 
Pre-close Trading Update
 
 
Thruvision (AIM: THRU) the specialist provider of 'safe distance' people-screening technology to the international security market, is pleased to provide an update on trading for the six months ended 30 September 2020, the first half of the Group's financial year.
 
Despite the challenges presented by the Coronavirus pandemic and limited activity from early March to mid-June, the Group had a strong second quarter and, for the first time, has achieved break-even EBITDA for the half year. Revenues in the period were £4.7 million (H1 FY20: £4.8 million) with a gross margin of 48% (H1 FY20: 48%).
 
Cash at 30 September 2020 was £5.0 million (31 March 2020: £8.4 million) and this is expected to improve materially during October when a US Federal Government payment falls due, bringing cash to levels seen in the prior year.
 
Our Customs and Profit Protection sectors held up well despite the Coronavirus impact although our Aviation sector was inevitably badly affected. In the period we received orders from 8 new and 6 existing customers.
 
 
 
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
Patrick Robb / James Rudd / Sebastian Lawrence
 
FTI Consulting LLP                                                                          +44 (0)20 3727 1000
Matt Dixon / Shamma Kelly
 
 
 
About Thruvision
Thruvision is the leading provider of 'safe distance', people security screening technology. Addressing the heightened need to eliminate physical people search (or 'pat-downs') caused by the Coronavirus pandemic, Thruvision has been vetted and approved by the US Transportation Security Administration for surface transportation.
 
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 between 3m and 10m.
 
Operationally deployed in 20 countries around the world, Thruvision is used for aviation and transportation security, retail supply chain loss prevention, facilities and public area protection and customs and border control. The company has offices near Oxford, and in Washington DC.
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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
TSTFLFLTIALRIII