Thruvision revenues on the rise as deliveries more than double

Screening technology outfit Thruvision maintained good momentum across all of its four key markets in the year ended 31 March, with a further 50 units delivered to customers in the second half.

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Thruvision delivered a total of 109 units to customers during the year - a marked improvement on the 57 units handed over a year earlier - and the firm now expects revenues to be on the order of £6m, almost double the £3.1m seen twelve months prior.

Cash balances tumbled 45% to £9.4m following the return of cash to shareholders in August 2018.

The AIM-listed group's second-half sales included the third order from an existing Asian government customer for transportation security, repeat orders from four existing loss prevention customers and an order from its new customer, Matalan.

Thruvsion also highlighted "good progress" in its customs unit with UK Border Force, the 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.

The Abingdon-based saw its sales pipeline continue to build, especially in the US, although it did note that activity was affected by the government shutdown early in 2019.

Looking forward, Thruvision told investors the combination of its new customer wins, strong progress in the US and repeat customer purchases in both its Asian and loss prevention markets had supported its confidence in the group's strategic prospects.

As of 1030 BST, Thruvision shares had inched ahead 0.35% to 28.70p.