Thruvision reports strong recent trading
By Josh White
Date: Friday 26 Jan 2024
(Sharecast News) - Walk-through security technology specialist Thruvision reported strong order flow in a trading update on Friday, across a number of geographic markets with both new and existing customers.
The AIM-traded firm said that in the retail distribution sector, its flagship 'WalkTHRU' security technology continued to gain traction.
WalkTHRU, designed for high-speed screening of individuals for concealed items, was selected by a prominent global sports apparel brand as a key component of its security upgrade programme in US distribution centres.
Thruvision said it would employ WalkTHRU to screen employees for stolen items as they exit at the end of their shifts, and to check for weapons as they enter.
Additionally, two existing FTSE 100 UK retail customers recently placed orders for additional WalkTHRU lanes.
In entrance security, Thruvision received orders from two existing customers - a European prison service, and a Gulf state.
The orders would further bolster the company's presence in the segment.
In the customs market, an existing Asian agency customer had also placed additional orders with Thruvision.
Thruvision said the cumulative value of the orders amounted to £1.3m, with delivery expected in the second half of its financial year.
"We continue to make good progress in rolling out our technology to the retail distribution and entrance security markets," said chief executive officer Colin Evans.
"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."
At 1032 GMT, shares in Thruvision Group were up 6.45% at 19.96p.
Reporting by Josh White for Sharecast.com.
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