Business
Audited results for the full year 31 March 2018
Audited results for the full year 31 March 2018.
About this update from Thruvision Group Plc
[{"type":"text","content":"\n \nRNS Number : 5272S Thruvision Group PLC 26 June 2018 \n\n26 June 2018\nThruvision Group plc\n(\"Thruvision\" or the \"Group\")\n \nAudited results for the full year ended 31 March 2018\nHighlights\n \n· Completion of sale of Thruvision Group PLC's Video Business in October 2017. \n· Total revenues (including discontinued operations) of £16.2 million (2017: £ 26.8 million) and total loss of £19.6 million (2017: £16.7 million). \n \nFor Thruvision Continuing Operations (the Company):\n· Revenues of £3.1 million (2017: £2.0 million) with loss before tax for continuing operations of £3.2 million (2017: £1.1 million);\n· Business performance close to breakeven in H2 with operating EBITDA loss of (£0.1) million in H2, before PLC costs; \n· A record number of 54 Thruvision units shipped in the second half across our four target markets (giving 57 for the full year) with several new international customers acquired, repeat sales to existing customers and a strengthening international sales pipeline;\n· Successfully completed US Transportation Security Administration (TSA) mass transit testing and, since period end, started testing with TSA's future aviation checkpoint security programme; \n· Cash at 31 March 2018 of £17.6 million (31 Oct 2017: £17.1million);\n· Process to return up to £8.0 million of cash to Shareholders through tender offer, expected to take place over summer 2018.\n \nCommenting on the results, Colin Evans, Managing Director, said:\n\"Following the disposal of the Video Business, the Group has made significant strategic progress. The tighter market focus and additional sales resource has resulted in a material pick up in sales for the Group. \n \nWe are seeing growing momentum in the loss prevention and border control markets, building on our starting position in counter-terrorism. This combined with a strengthening geographic footprint underpins the Boards confidence that Thruvision is very well placed to become a leading new technology provider to the international security market.\"\n \n\n\n\n\nFor further information please contact:\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nThruvision ...