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Thruvision Group plc published a trading update on 13 February 2025, revising its revenue expectation for the financial year ending 31 March 2025 to a range of £5 million to £6 million, down from previous guidance of £9 million. This adjustment is due to "Material Opportunities" primarily shifting to the next financial year. Discussions are ongoing with parties regarding the Strategic Review launched on 14 January 2025, and the Group anticipates its cash resources will last until approximately the end of May 2025.
| Date | 13 Feb 2025 |
| Time | 07:00:05 |
| Category | Trading updates |
| ID | 9250W |
Thruvision Group plc
Trading update and Progress on Strategic Review
Thruvision (AIM: THRU, "Thruvision" or the "Group"), the leading international provider of walk- through security technology, today publishes a trading update for the current financial year ending 31 March 2025.
The Board announced on 14 January 2025 the launch of a Strategic Review and noted that it had a number of significant near-term opportunities (the "Material Opportunities") with a potential contract value for the financial year ending 31 March 2026 of approximately £15 million. It further noted significant milestones for these Material Opportunities were scheduled for the fourth quarter of the financial year ending 31 March 2025.
Whilst all of these Material Opportunities remain intact, recent discussions with associated customers have confirmed that they will predominantly not start before the next financial year and therefore that their impact on the current financial year ending 31 March 2025 will be minimal. Accordingly, the Board now expects that Group revenue for the current financial year ending 31 March 2025 will be in the range of £5 to £6 million compared with the previous guidance of £9 million.
The Board continues to anticipate that the cash resources of the Group will last until approximately the end of May 2025.
Since the announcement of the Strategic Review on 14 January 2025 discussions have been held, and are continuing, with a number of parties. It is hoped that one or more offers to either acquire the Group or to provide additional cash resources will be forthcoming although there can be no certainty that such offers will materialise.
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For further information, please contact: |
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Thruvision Group plc Tom Black, Executive Chairman Victoria Balchin, Chief Executive Officer |
+44 (0)1235 425400 |
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Investec Investment Banking (NOMAD & Broker) Patrick Robb / James Rudd / Sebastian Lawrence |
+44 (0)20 7597 5970 |
About Thruvision (www.thruvision.com)
Thruvision is the leading developer, manufacturer and supplier of advanced AI-based walk- through security technology internationally. Its technology is deployed in more than 30 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 advanced AI-based detection algorithms.
The Group's offices are near Oxford and Washington DC.
This announcement may include statements that are, or may be deemed to be, 'forward-looking statements' (including words such as 'believe', 'expect', 'estimate', 'intend', 'anticipate' and words of similar meaning). By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances, and actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by applicable law, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement, whether following any change in its expectations or to reflect events or circumstances after the date of this announcement.