Thruvision Group, a leading provider of screening technology, has announced a significant improvement in its financial performance for fiscal 2023. The company’s pretax loss has narrowed to £979,000 ($1.3 million) for the year ended March 31, compared to a loss of £1.9 million in the previous fiscal year.
The adjusted pretax loss, which excludes exceptional and one-off items, also decreased to £800,000 from £2.3 million the previous year. This positive development is largely attributed to strong order intake from a major customer in the United States.
Thruvision Group experienced a notable increase in revenue, with figures rising from £8.4 million to £12.4 million. This growth can be primarily attributed to a significant multiyear order received from U.S. Customs and Border Protections. This order, along with related orders from the same customer, contributed £8.3 million to the overall revenue.
“We are confident that our current revenue base in these markets, as well as their substantial potential, will serve as a solid foundation for our future growth as a group,” said Chief Executive Colin Evans.
