Business
Year End Trading Update and Board Changes
Year End Trading Update and Board Changes.
About this update from Thruvision Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0461H\n Thruvision Group PLC\n 04 April 2022\n \n \n \n \n \n 4 April\n \n \n 2022\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 Year End Trading Update and Board Changes\n \n \n \n \n \n Thruvision (AIM:THRU), the leading provider of \"safe distance\" people-screening technology to the international security market\n , is pleased to provide an update on trading for the financial year ended 31 March 2022.\n \n \n \n \n \n Overview\n \n \n \n \n \n As expected, the second half of our financial year showed a significant improvement over the first, driven by a considerable increase in our Profit Protection revenues and further orderflow for US Customs and Border Protection (CBP). Full year revenue is expected to be around £8.4 million (FY21: £6.7 million) and our cash balance has increased since the half year to £5.5 million on 31 March 2022 (30 September 2021: £4.1 million; 31 March 2021: £7.3 million).\n \n \n \n \n \n Trading update\n \n \n \n \n \n Full year Profit Protection revenue performance was very strong, increasing more than 70% over the prior year. We received a significant order from Tesco in our second half and added 3 further new profit protection customers including our first major European customer, Zalando. We were also very pleased with the level of follow-on orders from customers who made their initial purchases in FY21 including CEVA Logistics and ASOS, and by established customers such as Next and Boots who started upgrading their people screening fleets during the year. In the US, our strengthened Profit Protection team secured an initial order from Republic National Distributing Company (RNDC), one of the US's largest alcohol distributors operating across 38 states. Given our strengthening sales pipeline and the very evident size of market opportunity in the US, we will continue to \n actively pursue \n growth here.\n \n \n \n \n \n As reported in our Interim Results in November, \n we supported US CBP in deploying its existing units to the Southern Border to enable it to manage the very high levels of migration there. This close engagement has proven the significant value our solution provides, b...