Thruvision secures contract with Asian mass transit project

(Sharecast News) - Thruvision Group said in an update on Tuesday that it has secured a contract award through a regional integration partner for the deployment of its walk-through security technology in a major South-East Asian mass transit project, with the deal expected to generate more than £1m in revenue. The AIM-traded security technology provider said the award covered the deployment of 20 high-throughput people-screening systems for a large international rail link.

It said the systems would be used to enhance passenger safety while maintaining high passenger throughput and minimising disruption to passenger flows.

Delivery of the equipment was expected to take place during the current quarter.

In addition to the initial deployment, Thruvision said a further contract award relating to support services was anticipated in the next financial year, providing potential additional revenue beyond the initial order.

The company said the contract represented a significant step in expanding its footprint in the Asian mass transit market and further supports its strategy of working with established regional partners to address large-scale infrastructure opportunities.

"This award demonstrates the growing demand for our technology and, as the second major order in this region this financial year, reflects the increasing traction of our regional partner strategy in Asia, reinforcing confidence in its effectiveness across our established market sectors," said chief executive officer Victoria Balchin.

At 1547 GMT, shares in Thruvision Group were flat at 0.95p.

Reporting by Josh White for Sharecast.com.