7th Apr 2025 12:48
(Alliance News) - Thruvision Group PLC on Monday said full-year revenue is expected to drop by more than 40%, and warned its cash will run out by the end of June without new funding.
The Abingdon, England-based provider of walkthrough people-screening technology said revenue for the financial year ended March 31 is expected to be around GBP4.4 million, down 44% from GBP7.8 million a year earlier.
Retail Distribution revenue rose 55% to GBP3.0 million, now representing 61% of total revenue. However, this was offset by weaker sales in the Customs and Entrance Security segments.
The company said it made no sales from its pipeline of "Material Opportunities" in financial 2025. These opportunities, now worth GBP18 million, are expected to impact the current year to March 2026, although the firm has yet to receive any purchase orders.
As of March 31, Thruvision had GBP400,000 in cash and GBP1.5 million in trade receivables, with an undrawn GBP950,000 overdraft facility expiring on May 31.
The board now expects existing resources to last only until the end of June.
Meanwhile, Thruvision said it is in ongoing talks with one interested party about a potential acquisition and has recently opened discussions with a second group of potential bidders or funders. However, the board said there is "no certainty" that any transaction will be agreed.
Shares in Thruvision were down 3.5% at 1.40 pence in London on Monday afternoon.
By Eva Castanedo, Alliance News reporter
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