Shares in Thruvision Group PLC (AIM:THRU, OTC:DIGTF) tumbled 20% after the security technology group reported a sharp fall in annual revenue and deeper losses.
The company, which supplies walk-through scanners to retailers and border agencies, posted sales of £4.2 million for the year to March, down from £7.8 million a year earlier.
The decline was driven by the absence of large “material” orders, which contributed £3.4 million in 2024, although core retail distribution sales grew.
Losses widened, with adjusted earnings before interest, tax, depreciation and amortisation showing a £3.8 million shortfall, compared with £2.5 million the year before.
Cash dwindled to just £0.4 million at the year's end, though Thruvision has since raised £2.75 million through a share issue backed by existing investors and directors.
Tom Black, executive chairman, admitted the revenue decline was “a great disappointment” but said early trading in the new year was stronger and that the pipeline remained active.
The shares, off 78% in the year to date, dropped 0.34p to 1.36p.