Thruvision Group returns to growth after 'very strong' second half

Thruvision, which is a provider of "safe distance" people-screening technology to the international security market, has announced its results for the financial year ended 31 March 2022.

The group’s revenue grew by 25 per cent to £8.4m in the period, with new equipment sales growing at 35 per cent to £7.7m.

Within this, profit protection grew very strongly and customs remained flat, but together they accounted for 92 per cent of group revenue. Support and development revenues remained healthy at £0.7

million, the group said.

Commenting on the results, Colin Evans, chief executive, said: "It is very pleasing to see the group return to growth this year.

"Building on steady first half momentum, our second half performance was very strong, driven by significant growth in profit protection.

"We remain focused on this significant market opportunity and have appointed Katrina Nurse to our board to bolster our retail sector expertise and help add further household names to our growing list of major users.

He added: “Our relationship with US Customs and Border Protection (CBP) continues to strengthen.

"Having delivered material revenue in the year to start upgrading CBP's existing Thruvision cameras, we expect further growth with this key customer over the coming years as it starts a full rollout of our technology.

“With the broader economic picture looking increasingly challenging, I am confident that our unique offering and diversity of our two core markets, profit protection and customs, will deliver further good growth this coming year."