Thruvision shares soar 40% following GBP3 million contract win
(Alliance News) - Thruvision Group PLC on Monday said a new contract in South East Asia, which is the third awarded to the company in Asia worth more than GBP1 million in just over a year, marked a "significant milestone" in the company's expansion across the region.
Shares in the Abingdon, England-based provider of walk-through people-screening technology were up 41% to 0.88 pence per share on Monday morning in London.
Thruvision said the contract, signed via the company's principle regional partner will see Thruvision's technology deployed across "multiple major airports in South-East Asia". It didn't name either the partner nor the airports.
The technology will strengthen aviation worker screening and insider threat detection. It builds on the successful deployment of multiple WalkThru lanes at major cultural events in South-East Asia last year, Thruvision said.
The "award represents a significant milestone in Thruvision's expansion across Asia and further validates the company's strategy of working with trusted regional partners to capture large-scale security opportunities," it said.
It is the third contract worth more than GBP1 million in Asia that Thruvision has received in the past 14 months and represents it largest deployment in Asia to date.
Chief Executive Officer Victoria Balchin said: "The aviation sector increasingly recognises that security extends well beyond passenger screening, with insider threat becoming a major operational priority worldwide. Working alongside experienced regional partners allows us to address these evolving security challenges at scale, and we believe this award further strengthens our position for future growth across Asia and other international markets."
Delivery of the systems is expected during the second half of the 2027 financial year ending March 31.
By Niall Holden, Alliance News reporter
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