Technology
Thruvision Group plc
Analysts
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Company Description
Spun out from the British Government's Rutherford Appleton Labs in 2002, Thruvision Group is an AIM-quoted technology company that develops, manufactures and sells people-security-screening technology. Thruvision has developed a range of exceptional cameras that register minute differences in body heat, and the technology can detect relatively small objects hidden under an individual's clothing. Based in the UK, Thruvision sells its products globally, focusing on three main sectors, Aviation, Customs and Profit Protection, where it is finding significant opportunities to grow its presence, while Mass Transit and Event/Location Entrance protection markets could be developed in future. A key feature of Thruvision's technology is that it operates at a physically distant range of several metres and completely removes the need for physical searches.
Investment Summary
Thruvision's technology is differentiated from competing security screening technologies by operating at a safe distance and detecting non-metallic as well as metallic items. COVID-19-related restrictions on close proximity 'pat-downs' (required to resolve alarms from walk-through metal detectors and airport body scanners) increased interest in Thruvision's screening solutions, although the Aviation sector was particularly affected by lockdown travel restrictions. Thruvision has started to expand and tailor its product range and appears well-positioned to address the growing need to safely, quickly and comprehensively security screen individuals for weapons, contraband or other illicit items. Sales contracts are often high value with irregular timing, leading to uneven sales growth, but medium-term prospects seem promising, and the group has demonstrated good cost control while maintaining a strong balance sheet.
Recent Content
On track to breakeven
04/04/2022
Thruvision, the leading provider of ‘safe distance’ people screening technology, has announced a trading update for the full […]
H1 2022 results reflect increasing confidence
22/11/2021
Thruvision’s H1 results to 30 September 2021 demonstrate enhanced confidence for H2 and beyond, and we reinstate forecasts […]
First Half Trading update
07/10/2021
Thruvision has provided a short update on trading for the six months ending September 2021. The Group has […]
Strong growth in Profit Protection
12/07/2021
Thruvision has demonstrated resilience during FY21, with management acting quickly to offset weakness in some core end markets […]
Profit Protection performing strongly
01/04/2021
Thruvision has issued a trading update for the year ending 31 March 2021 highlighting a significant strengthening of […]
Resilient performance in H1 FY21
23/11/2020
Thruvision has reported results for the six months to end-September 2020, showing a steady financial performance, with cost […]
EBITDA break-even achieved for H1 21
07/10/2020
Thruvision’s trading update for the six months to 30 September presents a number of positives, despite the challenges […]
Well positioned for the medium term
08/06/2020
Thruvision today reported a strong performance for the year to March, albeit slightly impacted by the obvious slowdown […]
Per ardua, ad astra
02/04/2020
Thruvision’s trading update to March 2020 reflects a good year which experienced a ‘material slowdown’ in order-flow in […]
Company Management Team
Colin Evans
Chief Financial Officer
Colin was appointed a Director on 8 February 2010 and was appointed Chief Executive of Thruvision Group plc on 1 November 2017, having previously served in a number of senior management positions. He is responsible for all aspects of the business and draws upon his 22 years’ experience delivering innovative new technology to the international security industry and, in particular, to the US Federal Government. Prior to joining Thruvision, Colin spent 15 years with Detica Group plc, where he was Group Chief Operating Officer. He is currently a Non Executive Director at 6point6 Limited and Cloud Gateway Holdings Limited and their associated companies.
Adrian Crockett
Finance Director
Adrian was appointed a director on 1st May 2019. Prior to joining Thruvision, he was CFO at Venture Life an AIM listed consumer healthcare company. Before this he held senior financial management roles at Abbott Diabetes Care Ltd, a division of the US Healthcare company, Abbott, GSK, Novartis and Chiron corporation (prior to acquisition by Novartis, and Powderject pharmaceuticals (prior to acquisition by Chiron. Adrian has a BAcc honours degree in accountancy from The University of Dundee and is a Chartered Management Accountant.
