REVENUES ON THE UP AT THRUVISION

Laurence Kilgannon

https://www.insidermedia.com/news/south-east/revenues-on-the-up-at-thruvision

Revenues have climbed at listed people-screening technology specialist Thruvision.

Using patented passive terahertz technology, Thruvision is capable of detecting metallic and non-metallic threats including weapons, explosives and contraband items that are hidden under clothing, at distances up to 10 metres. The Abdingdon-headquartered company's scanners are being used to help tackle knife crime in the capital.

In an update on trading for the six months to 30 September 2019, Thruvision said it had continued to drive "good commercial momentum" during the period.

Revenues increased by 50 per cent to £4.8m after Thruvision delivered 64 units to customers including a greater proportion of high-end machines, helping to generate stronger revenues and gross margins than in prior years.

Sales momentum was particularly strong in Thruvision's customs market segment, with the business hailing the ability of its technology to reliably detect non-metallic items like drugs and bank notes.

During the period Macau Customs and US Customs and Border Protection became the group's seventh and eighth customers respectively, while Hong Kong Customs and the US State Department's Bureau of International Narcotics & Law Enforcement Affairs both returned to purchase additional units in the period.

Thruvision added that good strategic progress was continuing to be made in its aviation division. Los Angeles International Airport is deploying the company's products for employee screening purposes, and further technical progress is being made toward being approved for use in passenger screening in US airports by the TSA's Innovation Task Force.

In loss prevention, Morrisons has became an important new customer in the grocery sector.