25th Nov 2019 10:38
(Alliance News) - Body-scanning machine maker Thruvision Group PLC on Monday reported strong revenue growth, helping its interim loss to narrow.
Thruvision's revenue for the six months to September climbed 50% to GBP4.8 million, helped by a 6.7% rise in unit sales to 64. The company said growth also was helped by a focus on higher-performance machines.
Abingdon, Oxfordshire-based Thruvision's average revenue per unit climbed 40% to GBP73,000.
The company launched its Thruvision LPC machine during the summer. The loss-prevention device for retailers can detect smaller, high-value stolen items, such as watches or electronic wearables.
The pretax loss for the period was GBP413,000, narrowed from GBP794,000 the year before.
"We are pleased to report good commercial momentum in the first half of this year. We continued to win new customer orders, especially in the US, demonstrating growing awareness of our technology and its competitive advantages in providing fast and effective security screening of people," said Thruvision.
"With continued demand from existing customers and further strengthening of our brand internationally, we remain confident about the company's prospects for the future."
Shares were 4.1% lower on Monday morning in London at a price of 28.20 pence each.
By George Collard; [email protected]
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