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Thruvision still seeking suitor as it slashes revenue guidance
(Sharecast News) - Security scanning technology specialist Thruvision lowered its revenue guidance for the financial year ending 31 March on Thursday, as key contract opportunities were now expected to start in the next financial year. The AIM-traded company had previously anticipated revenue of £9m, but now expects between £5m and £6m after customer discussions confirmed that material contracts, worth up to £15m in the following year, would not begin as early as first thought.
It maintained that its cash resources would last until the end of May.
Since launching a strategic review in January, it said discussions had taken place with multiple parties regarding potential offers to acquire the business or provide additional funding.
While the discussions were continuing, the board warned that there was no certainty that an offer would be forthcoming.
At 1027 GMT, shares in Thruvision Group were down 18.22% at 3.68p.
Reporting by Josh White for Sharecast.com.
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