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
In January, Newmark’s chairman said the company has performed better than anticipated in its first half despite the impact of the coronavirus (COVID-19) pandemic, which he said has allowed the company’s investment activities to “continue with only slight delays experienced”.
In its numbers for the period, Newmark reported a pre-tax loss of £0.3mln compared to a £0.9mln profit in the previous year, while revenues came in at £7.9mln against £10.1mln in the prior year.
Despite the revenue declines, the company also reported cash inflows from operating activities in the period of £0.4mln compared to outflows of £0.1mln in 2019, adding that revenues have been “steadily improving trend through the year with a peak month of August benefiting from the UK recovering from the first lockdown and enabling some element of delayed trading activities to be recovered”.
What the boss says:
Maurice Dwek, chairman, said the company has entered the second half with “far more optimism than at the start of the year” and as a result expects a revenue reduction which is “materially less” than that experienced in the first half.