Business
Trading update and progress on Strategic Review
Trading update and progress on Strategic Review.
About this update from Thruvision Group Plc
[{"type":"text","content":"\n\n7 April 2025\nThruvision Group plc\n \nTrading update and progress on Strategic Review\n \nThe board of directors (the \"Board\") of Thruvision Group plc (AIM: THRU) (the \"Company\", \"Thruvision\" or, together with its subsidiary undertakings, the \"Group\"), the leading international provider of walk-through security technology, today announces a trading update for the financial year ended 31 March 2025 (\"FY25\") and an update on the Strategic Review.\nTrading Update\nRevenue for FY25 is expected to be approximately £4.4 million (FY24: £7.8 million).\nRetail Distribution revenue grew by 55% to £3.0 million and accounted for approximately 61% of total revenue in the year. This growth was offset by lower Customs and Entrance Security revenues compared with FY24. 58% of FY25 revenue resulted from orders from existing customers providing a solid base of repeat business upon which the Board expects to build. \nImportantly, the £4.4 million of FY25 revenue was entirely derived from individually smaller orders (being individual orders of less than £0.5 million) (FY24: £4.4 million). No FY25 revenue was derived from the \"Material Opportunities\" identified in the Company's Trading Update announcement of 14 January 2025 (the \"Update\"). As explained in the Update, the Material Opportunities, if concluded, are expected to primarily impact the current financial year ending 31 March 2026. The Material Opportunities all remain in the sales pipeline and now total £18 million, higher than the £15 million reported in January 2025.\nAs at the date of this announcement, the Group does not have confirmation from these potential customers as to when purchase orders for the Material Opportunities will be entered into, if at all.\nThe Group's cash balance at 31 March 2025 was £0.4 million, with trade receivables of £1.5 million. As stated in the Update, the Group has no debt, other than a total lease liability of £0.5 million. The Group currently has in place an undrawn overdraft facility of £0.95 million which expires on 31 May 2025. The Board now anticipates that the cash resources of the Group will last until approximately the end of June 2025.\nStrategic Review\nAs announced in the Update, the Board launched a strategic review (the \"Strategic Review\") on 14 January 2025. Discussions with an initial group of...