REG - Newmark Security PLC - AGM Statement

Newmark SecurityAnnouncement

31/10/2023 07:00

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RNS Number : 6092R  Newmark Security PLC  31 October 2023

31 October 2023

 

 

Newmark Security plc

("Newmark", the "Company" or the "Group")

 

AGM Statement

 

Newmark Security plc (AIM: NWT), a leading provider of electronic and physical
security systems, is holding its Annual General Meeting ("AGM") today at 10:30
am (UK).

 

At the AGM, Maurice Dwek, Newmark Chairman, will make the following statement:

 

"Last year was a period of significant progress across both businesses,
culminating in the Group returning to full-year profitability. As we close the
first half of the current financial year, I'm pleased to report that the
momentum has continued. New clients and contracts have been won across both
businesses, and the Group has further strengthened its position to address the
growing people and data security market.

 

"Grosvenor continues to rebuild with a focus on recurring revenues following
the anticipated end of the UKG contract. The Company announced in its full
year results to April 2020 that it anticipated this contract would reduce over
time following the merger in 2020 between Ultimate Software, our original HCM
partner, and Kronos, a competitor in time clock products. However, the timing
for this was uncertain and it is testament to the quality of services provided
by our team that this only happened in Q3 of the last financial year.
Notwithstanding this, Grosvenor has seen an excellent performance across its
Human Capital Management business lines. This has included the onboarding of
new clients and displacing its competition, growing its subscription numbers
by c.13% and winning contracts with the London Fire Brigade and Coventry
Hospital for its Janus C4 access control solution.

 

"At the same time, Safetell has fulfilled a large Protection Screens order for
a major supermarket chain, rolled out five new ballistic protection systems
for a new money exchange client, with a further 22 planned for next year, and
won new orders within banking, retail, utilities and public sector verticals.

 

"The Board notes that due to the timing of new contracts and orders, it
expects revenue for the current financial year to be predominantly weighted to
the second half. Importantly, we have adequate financial resources in place to
deliver on our plans. Whilst continuing to monitor the impact of global macro
events closely, we remain cautiously optimistic on the outlook for the rest of
the year."

 

For further information:

 

 

 

 

 Newmark Security plc                             Tel: +44 (0) 20 7355 0070

 Marie-Claire Dwek, Chief Executive Officer       www.newmarksecurity.com (http://www.newmarksecurity.com)

 Paul Campbell-White, Chief Financial Officer

 Allenby Capital Limited                          Tel: +44 (0) 20 3328 5656

 (Nominated Adviser and Broker)
 James Reeve / Lauren Wright (Corporate Finance)

 Amrit Nahal (Sales & Corporate Broking)

 

About Newmark Security plc

Newmark is a leading provider of electronic, software and physical security
systems and installations that helps organisations protect human capital and
provide safe spaces seamlessly and securely.

From our locations in the UK and US, we operate through subsidiary businesses
positioned in specialist, high-growth markets.

 

We foster an open and inclusive work environment amongst our c.100 employees,
serving hundreds of blue-chip customers.

 

Our product portfolio consists of Human Capital Management and Access Control
Systems providing both hardware and software and physical security
installations to various sectors.

 

Newmark Security plc is admitted to trading on AIM (AIM: NWT).

 

For more information, please visit: https://newmarksecurity.com/
(https://newmarksecurity.com/)

 

 

Safe. Seamless. Secure

 

 

 

 

 

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