What it does
Newmark Security PLC (LON:NWT) has two arms: Grosvenor, which specialises in clocking-in equipment and door access and security systems, and Safetell, which makes asset protection equipment such as screens for banks and now shops.
How it is doing
Latest annual figures showed an operating profit after exceptional items of £305,000, up from £286,000 in 2019, while revenues decreased 4% to £18.77mln.
The firm also received an £896,000 tax credit during the year, which boosted its after-tax profit to £1.12mln from £189,000 last year.
Revenues in Newwark’s human capital management business increased by 32% in the year, while its access control arm grew 4%.
The growth was offset by a 37% decline in revenues from the physical security solutions arm as the result of an expected reduction on the firm’s Post Office Network transformation project,
What the boss says: Maurice Dwek, chairman
“Whilst the current year results will be adversely affected by [coronavirus], I remain confident that there will be medium to long-term growth in both our divisions’ core markets”,
What the analyst says:
Click here to read Ed Stacey’s initiation report Newmark Security: Clocking on