Thruvision Group plc
- Market Cap (£m) 36.7
- 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, 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 offers exposure to growth markets with high barriers to entry and has good relationships in the International Customs market. Retail Profit Protection (warehouse staff theft) has an established customer base including high-profile retailers such as Tesco, Next, FedEx and CEVA. The business is now at an inflection point and first year of breakeven. The business has multiple growth opportunities with no direct competitors, and is gaining significant traction in its core markets. The technology is deployed in a variety of use cases, including airport security, major venues and loss prevention in distribution centres. A recent breakthrough order with US Customs and Border Protection (CBP) underpins revenue moving forward, coupled with growing interest from international agencies. Thruvision is expanding its product range, with its dynamic detection AI algorithm under software license and the introduction of the WalkTHRU screening lane developed in partnership with Next Plc.
Recent Content
Breakthrough revenue growth
21/04/2023 Thruvision Group plc
Thruvision has issued a positive full-year trading update to 31 March, detailing revenue growth of 48% and EBITDA […]
Strong H1 shows traction in core markets
19/12/2022 Thruvision Group plc
Thruvision has announced strong H1 results to 30 September, with the full year expected to be in line […]
Strong and reassuring trading update
12/10/2022 Thruvision Group plc
Thruvision has announced a positive H1 23 trading update, to 30 September 2022, as the group continues to […]
US Customs & Border Protection framework
03/10/2022 Thruvision Group plc
Thruvision, the leading provider of ‘safe distance’ people screening technology, has this morning announced the signing of a […]
FY results show growth trajectory back on track
30/09/2022 Thruvision Group plc
Thruvision’s FY results to 30 March 2022 demonstrate a return to growth, driven by a strong H2. Results […]
Further US Customs contract
23/09/2022 Thruvision Group plc
Thruvision, the leading provider of ‘safe distance’ people screening technology, has announced a short trading update and contract […]
On track to breakeven
04/04/2022 Thruvision Group plc
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 Group plc
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 Group plc
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 Group plc
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 Group plc
Thruvision has issued a trading update for the year ending 31 March 2021 highlighting a significant strengthening of […]
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
Victoria was appointed Chief Financial Officer on 1 October 2022. She held a number of finance roles with British Sky Broadcasting group plc (2000 to 2005) and SABMiller plc (2005 to 2017) before joining Spectris plc in 2017 as Group Financial Controller. In 2019, she was appointed CFO of Bruel & Kjaer Vibro, a Spectris business headquartered in Germany, which was sold by Spectris in March 2021 to a large Japanese listed group. Victoria has a BA Hons degree in Business Economics from the University of Durham and is a Chartered Accountant having qualified with PwC.
