Technology

Thruvision Group plc

Market Cap (£m) 38.1
Listing AIM

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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.

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Company Management Team

  • Colin Evans

    Chief Executive 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.

  • Victoria Balchin

    Chief Financial Officer

Key Dates

Jul 2022
12th
Finals
Estimate