Business
Trading Statement
Trading Statement.
About this update from Thruvision Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 5522I\n Thruvision Group PLC\n 02 April 2020\n \n \n \n \n \n 2 April\n \n \n 2020\n \n \n \n \n \n \n Thruvision Group plc\n \n \n \n \n \n \n (\"\n \n \n Thruvision\n \n \n \" \n \n \n or the \n \n \n \"\n \n \n Group\n \n \n \")\n \n \n \n \n \n \n Pre-close statement\n \n \n \n \n \n \n \n \n Thruvision (AIM: THRU), the specialist provider of people-screening technology to the international security market, is pleased to provide an update on trading for the financial year ended 31 March 2020.\n \n \n \n \n \n The Group maintained good momentum through much of the second half of the year, with good revenue growth complemented by continued strategic progress in our profit protection and aviation markets. However, the recent COVID-19 pandemic has caused a material slowdown in order-flow in March, meaning full year revenues are now expected to be £8.0 million (FY19: £6.0 million), somewhat below our previous expectations. \n \n \n \n \n \n Second half sales saw repeat orders from existing customers, including an Asian government and supermarket group, Morrisons, which is rolling out Thruvision units across its Distribution Centre estate. Two new profit protection customers ordered their first units, one of which, significantly, is our first in North America. We also received our first order for the Group's new higher performance 16-channel sensor from a global technology firm seeking to improve data centre security. We continued to support ongoing rollouts of units purchased by international Customs agencies in the first half of the year, and we made steady progress through ongoing US Transportation Security Administration laboratory testing and airport employee security trials.\n \n \n \n \n \n Regarding COVID-19, with due regard to government advice, we have taken all necessary steps to look after the health and wellbeing of our staff. The pandemic has impacted the Group's trading in three ways. Firstly, a number of orders have been delayed as customers review their own trading positions. Secondly, a number of trials, both in the UK and overseas, have been postponed due to their inherent logistical challenges in the current climate. Finally, our current view is that our supply chain will allow us to sustain moderate production levels for the next three...