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Vianet (VNET), another comparable share to NWT, also shows how these markets are recovering, and how undervalued NWT is:-
Vianet (VNET): s.p. 86p, market cap. £25.42M., P/E ratio 153.57.
13th Jun 2023 11:12 am RNS Replacement RNS: Final Results
" ...Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things platform ("IOT"), is pleased to announce its unaudited results for the year ended 31 March 2023 and a reinstated proposed final dividend of 0.5p per share.
Financial highlights
• Revenue increased 6.7% to £14.11m (FY2022: £13.22m);
• Recurring revenues remained strong at 89% (FY2022: 88%) increasing by £1.19m to £12.56m;
• Gross margin increased slightly to c. 66% (FY2022: c.65%);
• Adjusted operating profit, pre-exceptional costs, amortisation, and share-based payments of £3.11m, an increase of 31% (FY2022: £2.36m);
• Profit before tax £0.45m (FY2022: £0.17m loss);
• Basic earnings per share 0.56p (FY2022: 0.65p) net of £0.29m tax charge vs FY2022 credit of £0.36m; ..."
https://www.lse.co.uk/rns/VNET/replacement-rns-final-results-k3w5yhr8ajw8gp2.html
Synectics (SNX), a comparable share to NWT, yesterday announced another large contract, following on from a large contract it announced in April:-
4th Jul 2023 7:00 am RNS Contract Award
"Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, announces the award of a further contract, worth approximately GBP2.0 million, to supply specialist camera stations for Saudi Aramco's Zuluf development programme.
Further to its announcement on 13 April 2023 of the award of a GBP3.5 million contract for the Process CCTV system for the Zuluf development programme, the Company, along with its integration partner 3W Networks, has now been contracted to provide the related Security CCTV system.
A significant proportion of this additional contract is expected to be delivered by the end of the Company's financial year ended 30 November 2023, with the balance early in the following year."
https://www.lse.co.uk/rns/SNX/contract-award-slno0hn9jgntn1e.html
SNX shows both how these markets are recovering, and how undervalued NWT is:-
Synectics (SNX): s.p. 110p, market cap. £19.57M., P/E ratio 15.94 (based on underlying earnings per share of 6.9p).
19th Jun 2023 7:00 am RNS Trading Update and Notification of Results
" ... As expected, the Company's trading in H1 2023 continued in line with its AGM statement released on 27 April 2023, with good progress being made compared to the same period last year. ..."
https://www.lse.co.uk/rns/SNX/trading-update-and-notification-of-results-583y7mheww7o1ii.html
"The journey of facial recognition solutions at Grosvenor Technology
... It’s not just about the technology, as much as it is about effectively communicating the real-world capabilities of facial recognition technology, and importantly how it can be successfully implemented in differing environmental conditions.
That is why our Professional Services team always lead a Face Recognition opportunity, to ensure the partner is fully guided through the process. As much as I would like to say this is a point-and-shoot solution, it isn’t. The technology available today at this price point simply cannot do that. However, with good planning and customer engagement, our Face recognition solution is hugely powerful and reliable, processing staff in a touchless mode, quickly with minimal fuss, whilst ensuring end user information is protected and the end user’s attestation is given, logged and maintained.
Grosvenor along with our partners have learned a huge amount about successfully implementing face recognition and here are a few of the considerations to think about:
What to consider when implementing a face recognition solution?
1. Compliance and attestation to use the Facial data for punching in and out. Number one and in a legal sense extremely important. We have developed both on clock apps and Cloud based middleware, to not only securely collect and process facial data, but to allow clear attestation of the biometric owner for the system to collect and process it. We even ensure it is destroyed automatically if the attestation expires or is revoked. ...
Having said all the above, we continue to actively improve the technology, and have a busy schedule of planned updates to face recognition over the coming months. Our philosophy is to continually leverage customer feedback and advancing technology to mistake-proof the solution and improve customer experience, and we continue to invest to make that a reality. ..."
https://www.grosvenortechnology.com/insights/the-journey-of-facial-recognition-solutions-at-grosvenor-technology/
"The journey of facial recognition solutions at Grosvenor Technology
... To set the scene, we already had many 1000’s of devices in the field so whatever solution we developed, it needed to operate where possible with our existing solutions. Operation had to be as fast and easy to use as the established solutions, and importantly it had to be secure as we were capturing and processing people’s facial data. Finally, and most technically challengingly it had to be cost-effective, the incremental cost of the technology could not move the overall solution outside of the market price for a timeclock.
As a result of these key design parameters and after some rapid prototyping, we chose to utilise the onboard cameras already present in our GT8 and GT10 clocks, and to develop algorithms to recognise a face and apply software-based recognition algorithms for both verify (Card or Pin + Face) or Identify (Face only).
Our initial prototyping also included Mask Detection and subsequently we also scoped in thermal screening, both specific requirements driven by the pandemic.
On a bench, we were able to rapidly develop a demonstrable prototype which was performant and user friendly, able to recognise a face and match 1:10,000 faces in around a second on our GT8 Clock. So far so good! Then the real work started in terms of translating that to the real world, making it work for our partners in the multitude of environments it needed to.
It became very quickly apparent that the environment and lighting were key factors, and luckily the technology choice we had made of Visible Light and IR Cameras in the GT8 turned out to be the right one. Our GT8 device is equipped a combined Visible and IR capable camera, augmented with both LED(White) and IR illumination, both of which significantly improve the solution in poor lighting environments.
But technology only takes us so far and whilst we continue to develop facial recognition software updates and features such as temperature screening, the reality is that the installation and environment really do count. Also key here is the customers perception of what face recognition can do – can it recognise the face of someone wearing a large mask, glasses and a hat for example? The simple answer is no. If there is not enough information (or put another way, points of minutia available for the algorithm to work effectively) then this is not possible. It may be possible for a verify where it’s a one-to-one match, but generally not suitable for identify. ..."
https://www.grosvenortechnology.com/insights/the-journey-of-facial-recognition-solutions-at-grosvenor-technology/
Another excellent article from Grosvenor Technology's MD, that has just been added to its website:-
"Insights | Human Capital Management
The journey of facial recognition solutions at Grosvenor Technology
Hear from Colin as he explains the journey that Grosvenor Technology has taken with facial recognition…
Colin Leatherbarrow
Managing Director
Back in early 2020, Grosvenor was working on a solidified product roadmap focussed mainly around the development of our next generation time clock – the GT8, a range topping design from the outset, as a feature-rich, highly secure and performant timeclock, building on the success of the original GT10 Android 6 device which had catapulted us into large HCM opportunities, predominately in North America. We were also in the early stages of developing GT Connect, our revolutionary SaaS Cloud-based clock management platform encompassing middleware, PII/Biometric data compliance and data distribution.
At that time, our biometric roadmap was in a steady state, fingerprint technology provided by recognised industry leaders such as HiD’s Lumidigm and Suprema SF range were fully integrated into our timeclock solutions, along with advanced on clock capability for 1:N identification into the tens of thousands. Tried and tested technology, ideal for the HCM industry and adopted as the Defacto solution for biometric identification or verification needs for HCM applications.
The pandemic rolled up in early 2020 and a lot of things changed very rapidly, and our product roadmap was one of the early business casualties of the uncertainty the pandemic wreaked upon us all.
In terms of clock technology, the pandemic impacted one key area more than others and that was the touchless operation. In a short time, fingerprint technology (the most widely used, trusted and performant biometric technology) was demoted in terms of its functionality to a favoured touchless mode of operation.
Roll on Facial Recognition
Grosvenor Technology had in fact evaluated facial recognition prior to this, but conversations with our existing customers led us to believe there was insufficient demand in the HCM market. Fingerprint technology was regarded as mature, reliable and an accepted solution for both identification and verification applications.
And whilst it is fair to say facial recognition had already been around for some time in the market, it is also fair to say, it was mainly used in high end security applications. Entering a secure facility is one thing but clocking in 100 people starting a shift where every second is either their time or your money is entirely another.
So that was the challenge we faced and I wish I knew back then what we have learned as a company since that day. ..."
https://www.grosvenortechnology.com/insights/the-journey-of-facial-recognition-solutions-at-grosvenor-technology/
"Nasdaq records best start to year in four decades
Tech-dominated index rises 32% in first half of 2023 as investors bet on AI
Nicholas Megaw in New York and Daria Mosolova in London JUNE 30 2023
The Nasdaq Composite recorded its best first half of the year since 1983, after investors flocked to companies in the tech-heavy index that they expect will benefit from the growth of artificial intelligence.
... the UK’s FTSE 100 has trailed behind with a 1 per cent gain. The FTSE has been weighed down by the UK’s stubbornly high inflation and the index’s disproportionate exposure to falling oil prices. ...
“We’re constructive on US stocks, we like the inflation moderation . . . and are increasingly confident that the likelihood of recession is falling . . . [but] we’re much more cautious about Europe, particularly [the eurozone]. That view is driven by sticky inflation, and the fact the ECB will need to hike more.”"
https://www.ft.com/content/8402f4e6-d68c-4ee6-9f82-18b5a2388e6f
A mere 32% rise in H1 ... pah! PAH!
It's barely half of NWT's 62.12% H1 rise, LOL.
The outperformance of AI and America are clearly trends that NWT is well-exposed to.
But without the foreign dealing costs and potential research etc. difficulty of buying American stocks directly.
And without the risk of overpaying for a sky-high valuation, &/or risking a lossmaking stock.
Grosvenor Technology's MD relatively recently highlighted AI as the leading trend that is shaping its sector:-
"Insights | Company News
... 1. Artificial intelligence will continue to lead the way
According to recent figures, AI in the security market was valued at US$5.08 billion in 2020 and is expected to reach US$14.18 billion by 2026. Indeed, for several years running, artificial intelligence (AI) has been the predominant trend as companies continue to leverage its advanced capabilities for functions such as facial recognition, video surveillance, audio analytics, and more.
More recently, we have seen a shift towards AI being used as a preventative rather than a reactive measure, meaning that security teams can stop incidents taking place in the first place thanks to things like predictive analytics and machine learning. ..."
http://www.grosvenortechnology.com/insights/key-security-industry-trends-in-2023/
And it will be interesting to see if the company announces any new contract wins in the run up to its final results (expected in September), as it has done in the past:-
7th Aug 2020 7:00 am RNS New US Customers
https://www.lse.co.uk/rns/NWT/new-us-customers-erccbh9spxhh01t.html
8th Sep 2020 7:00 am RNS Safetell secures two new contracts
https://www.lse.co.uk/rns/NWT/safetell-secures-two-new-contracts-hzhfedxa8r64lt3.html
So NWT has had a very strong January-June 2023, and this weekend is a good point to take stock at the half calendar year stage.
NWT's 62.12% rise (33p to 53.5p) this year to date equates to an annualised gain of 162.83% p.a.
And applying this rate of rise from the current level, this would be the rough result:-
31.12.23: 86.75p
30.6.24: 140.6p
31.12.24: 228p
30.6.25: 369.5p
31.12.25: 599.15p
One of the greatest and saddest errors in investing - and a classic beginner's mistake - is to sell a cracking GARP stock far too early.
Such stocks can benefit from the double positive whammy of soaring profits combined with a climbing rating, and the upside can be quite enormous, defying all the sceptics.
They're totally different animals to spiking penny share punts, and so deserve a totally different approach.
'Horses for courses' if you like: and NWT is clearly a thoroughbred steed worthy of NEWMARKet ...
Good to know that the government is really determined on Protect Duty, and that many people are already taking action in anticipation of this new legislation:-
"Protect Duty: Venue security law a top priority, minister says
16 June 2022
By Mat Trewern
Reporter, BBC Radio Manchester
Introducing a new law requiring public venues to better protect people from terror attacks is seen as a "top priority" by the security minister.
A year ago the public inquiry into the 2017 Manchester Arena bombing found a series of security failures and missed opportunities to prevent the atrocity.
A lawyer for seven bereaved Arena families has criticised how long it was taking to introduce Protect Duty laws.
But Security Minister Damian Hinds said the government had to "get it right".
The government said it intended to introduce legislation during the current parliamentary session.
Mr Hinds told the BBC he would "guarantee" the new law would have a strong legal duty on venues, as well as tough enforcement measures for those that do not comply.
The government first announced plans for the so-called Protect Duty in January, compelling all public venues to have appropriate security procedures in place.
Mr Hinds said it was "vital" to learn lessons from the "terrible tragedy" of the 2017 terror attack, in which 22 people were killed and hundreds more were injured by a suicide bomber at the end of an Ariana Grande concert.
The public inquiry's first report, published in June 2021, said the bomber should have been identified as a threat before he carried out the attack.
Inquiry Chairman Sir John Saunders said the government should make it a legal requirement for all public venues to have counter-terrorist plans and security measures in place.
The extent of those measures would depend on the size of the venue.
... 'Determined'
Mr Hinds insisted the Protect Duty would be strong and effective while not creating "excessive amounts of bureaucracy" for businesses.
"Having met some of the survivors and the families from this most awful of attacks… that only goes to reinforce and deepen the commitment that we all have to make this work," he said.
"I absolutely understand people's sense of urgency, that's a sense of urgency I share. We all want to get on and do this but we also have to make sure we get it right."
Ms Murray said some organisations in the security industry were already improving measures, anticipating any future law.
"A lot of people within the industry are not even waiting - they're buying equipment, putting more staff on, they're looking at their CCTV, they're doing loads of stuff and that in itself is really heart-warming," she said.
Mr Hinds insisted the government and the security sector were determined to learn lessons from the mistakes highlighted in the Arena Inquiry."
https://www.bbc.co.uk/news/uk-england-manchester-61809376
The new Protect Duty legislation has been in the offing for a while now, and it now looks like it's coming to fruition ... which should be huge for Safetell:-
10 Sep 2021 07:00 AM RNS Final Results
"... The new 'Protect Duty' legislation, should it become law, will mean that the owners and operators of businesses and public spaces such as concert halls, shopping centres and parks will be legally bound to protect their sites and shut them down in the event of a terrorist attack. That means they will need remote locking facilities, screens on all their counters, and even breakout facilities where people can get to and stay safe. We anticipate that many new opportunities will open for us to support businesses that need to comply with such new legislation. ..."
https://www.investegate.co.uk/announcement/rns/newmark-security-plc--nwt/final-results/6774438
"PROTECT DUTY
The Home Office estimates that 650,000 UK businesses could be affected by Protect Duty. ..."
https://marlowefireandsecurity.com/resources/protect-duty/
Forward-thinking businesses should start preparing in advance of the new Act being passed.
And this is just one of multiple strong regulatory drivers for NWT.
From some posts I made here in March:-
• Automatic doors safety standards & annual maintenance.
• Fire doors safety standards & annual maintenance.
• Protect Duty legislation.
• Biometric data privacy requirement.
• Time clocks obligation.
"The Impact of Martyn’s Law/Protect Duty on UK Businesses
...
Entrance control is used in a variety of settings, including government buildings, corporate offices, universities, airports, and other secure facilities. It helps to ensure that only authorised individuals are allowed to enter, which can reduce the risk of theft, vandalism, or other security breaches and create a safer and more secure environment for employees, visitors, and customers.
Safetell offers a unique portfolio of entrance control products that cater to various needs and can be integrated with any access control system and directly address the physical requirements suggested in Martyn’s Law. We take a consultative approach to physical security and have over 30 years of experience in guiding businesses through the various challenges they face in finding and implementing physical security solutions. Some of the products we offer include:
Security Portals ...
Speed Gates ...
Full Height Turnstiles ...
Tripod Turnstiles ...
Swing Gates ...
Security Revolving Doors ...
Security Pass Doors ...
Speak to Safetell about securing your building today."
https://www.safetell.co.uk/insights/the-impact-of-martyns-law-protect-duty-on-uk-businesses/
"The Impact of Martyn’s Law/Protect Duty on UK Businesses
... There is no set date for the passing of the bill, and there will likely be revisions. But businesses who are concerned about possible terrorist events (or falling foul of the new law) should start assessing their individual risks and identify practical protective measures to ensure counter-terrorism is taken.
After all, it is better to be safe than sorry. In a worst-case scenario, small security measures can have a big impact on the health and safety of staff and visitors. Some recommendations based on the information out there include:
• Reading information that has been published regarding Martyn’s Law
• Reviewing existing plans and risk assessments, and comparing them to the information that has been published
• Promoting awareness throughout your organisation
• Feeding back to the Home Affairs Select Committee with concerns and thoughts
• Be aware of updated guidance, training, and schemes available, and further information about the bill
Could your premise be more secure?
It’s always a good idea to evaluate the security of your building, whether legislation demands it or not. The sobering investigation into Manchester Arena proved that minor security upgrades could have saved the lives of many innocent concert-goers. Safetell is not only able to provide security measures like entrance control to a public building; we’ll gladly work with your venue to develop bespoke physical security solutions that meet your unique security needs.
Implementing Entrance Control
Entrance Control is one of the most effective (and fastest) ways of improving physical security in a building. It uses systems and security equipment to monitor, control, and restrict access to specific areas in a building. In an office environment, this usually includes requiring the use of a key card, pin code, biometric data or other authentication methods to gain entry through security doors, portals and revolving doors.
In a public building, this usually involves implementing physical barriers like turnstiles, speed gates, security portals and revolving doors, security doors, and interlocking doors. The system can be integrated with CCTV cameras, alarms, and intercom systems to provide a more layered approach to security. This restricts access to authorised individuals without obstructing an efficient and seamless flow of people, and the entire system can be configured to match the existing aesthetics of the building. ..."
https://www.safetell.co.uk/insights/the-impact-of-martyns-law-protect-duty-on-uk-businesses/
After a few old articles, here's one that's 'hot off the press' from Safetell's website ... and it's another particularly instructive one, highlighting what should be an immense opportunity for the company:-
"The Impact of Martyn’s Law/Protect Duty on UK Businesses
28 June, 2023
The 2017 Manchester Arena bombing sent shockwaves throughout the globe and set in motion some of the biggest legislative changes in the UK in decades. Figen Murray, the mother of one of the bombing victims, Martyn Hett, began a campaign demanding legislation that would compel publicly accessible locations to implement basic security measures.
An investigation into the Manchester attack later showed that there were several opportunities where more could have been done to prevent the attack, prompting an inquiry into public locations and their responsibility to ensure the safety and security of visitors and staff. The first volume of the enquiry highlighted key failings, including grey spaces (where there is a lack of clarity over ownership and protection), insecure security perimeters, complacency and inadequate risk assessments.
These shortcomings led to the development of plans put into law around the responsibilities that businesses and venues have when it comes to preventing terror attacks, known as “Protect Duty”.
The first draft bill for Martyn’s Law – Terrorism (Protection of Premises) was submitted to the Home Affairs Select Committee in May 2023. If implemented, it will require all public buildings to create preventative action plans against terror attacks and to assess the potential risks, dangers and scenarios related to terror attacks in order to improve public protection. Protect Duty laws will cover the entire UK and demand action for business owners.
What Might Martyn’s Law/Protect Duty Entail?
While Martyn’s Law remains a draft bill and is yet to be approved, it may have widespread implications for a number of businesses. The draft bill requires venues with a capacity of over 100 people (standard tier) to implement simple yet effective anti-terrorism measures, including training and standard terrorism evaluation.
However, if the bill is passed in its current format, venues that can accommodate 800 people or more (enhanced tier), or businesses with over 250 staff, will have increased responsibility, including risk assessments and more detailed security plans. The draft bill also proposes a strict inspection and enforcement regime, including sanctions for breaches.
If the bill passes, more than 650,000 UK businesses will be required to enhance security controls, including commercial businesses, nightclubs, and publicly accessible venues. This may include installing mandatory physical updates such as bollards, intruder detection technology, tactical CCTV, and extra secure entrances and entrance controls. ... "
https://www.safetell.co.uk/insights/the-impact-of-martyns-law-protect-duty-on-uk-businesses/
An interesting extension to the 'data is the new oil' insight: that biometric data must be the 'finest refined petroleum':-
"Data is the new oil, but drilling for it may have unintended consequences.
28 May 2019 2 min read
I read with interest Newmark Security’s CEO Marie-Claire Dwek’s post last week on data being the new oil and it led me to consider that if data is the new oil, biometric data must be the finest refined petrol [my American friends should read gas] money can buy.
So says Lauren Stewart in a recent issue of the Boston College Law Review. Stewart goes on to say that whilst there are obvious benefits of increased data security and ease of access to the business’s services for consumers, there is a concerning lack of consistency of approach at a business and at a U.S. State level. She calls for U.S. Congress to enact a comprehensive statute and for those working in biometric data protection. This would be a welcome approach.
As an example of the challenge biometric data practitioners face in the U.S., the State of Illinois has recently introduced a comprehensive statute, called the Illinois Biometric Information Privacy Act (BIPA). This has caused huge problems for Human Capital Management (HCM) providers and end-users alike, as it is entirely inconsistent with the biometric statutes introduced by two other states (Texas and Washington). A useful employer’s guide to BIPA can be found here.
Fashion retailer H&M is currently facing a class-action for misuse of data collected on a time clock, in Cook County. Their process is currently acceptable in 47 other US States, but not Illinois. Two weeks ago Fillmore Hospitality, which owns a hotel chain, became the latest target of a proposed class action for similar BIPA violations. They are certainly not going to be the last.
Similar challenges present themselves in the UK too. Only last week has the Information Commissioners Office (ICO) issued an enforcement notice to Her Majesty’s Revenue and Customs (HMRC) for failing to adhere to the biometric requirements of the European wide General Data Protection Regulation (GDPR).
The most frustrating part of all of this is that technology-led solutions exist now to properly protect and encrypt data at the edge device at the point of collection before it is moved to a cloud-computing environment and securely disseminated. This, coupled with proper consent-seeking and compliance with specific users’ preferences, would keep biometric data users on the right side of the most onerous local legislature and regulatory requirements."
https://gtclocks.com/insights/thought-leadership/data-is-the-new-oil-but-drilling-for-it-may-have-unintended-consequences/
Another old article from Grosvenor Technology's 'USA website', but the insight that data is 'the new oil' is well worth flagging up, as is GT's decades long expertise in managing this precious asset:-
"Data protection and edge computing is a brave, new, exciting world for some…
We’ve been doing it for 30 years.
Marie-Claire Dwek CEO for Newmark Security
9 May 2019 2 min read
In 1989 we introduced the world’s first access control system that operated in a Microsoft Window’s environment.
Our remote data-protection solutions have subsequently helped companies throughout the world and now 30 years later data has become the new oil.
At GT Clocks we’ve been closely monitoring this shift, witnessing the huge increase in customer demand for services supporting it, which is, I must say, even more prevalent now. And, as you can imagine, we’re not allowed ourselves to sit back and miss opportunities.
At the cutting edge
From our inception, we have designed and manufactured state-of-the-art edge devices that capture user data at various endpoints for clients from a broad spectrum of industries. It’s this vast domain experience that allows us to speak with authority on the management and distribution of data in a highly efficient and secure way.
Today, the proliferation of edge devices able to capture user data has raised many questions about the legality and regulations surrounding what’s known as personally identifiable information (PII). Although this information is shared, ownership of that data has, quite rightly, been redefined of late, both sides of the Atlantic. The reform we have seen with GDPR across Europe, and also at a State by State level in the U.S., has meant a sharp refocus for many companies on the management of that data.
What does the future hold?
In three words, Restrictions, Regulations, and Opportunity. Coming from an industry used to managing ‘people data’, the fatigue users now have with the misuse of this ‘new oil’ has become apparent. Trust is the essential ingredient, and our customers tell us we have earned it. Working with these partners throughout the world, we have been developing pioneering technology that ensures they can continue to use PII to enhance their own services, whilst protecting an individual’s information.
The importance of this was highlighted to me during a recent visit to the U.S., where I became aware of an emerging trend in Human Capital Management. This has involved several high-profile companies being investigated for misuse of personal data with one currently the subject of a class action.
I will be covering in further detail exactly how we have been helping our partners to overcome these threats in forthcoming pieces."
https://gtclocks.com/insights/thought-leadership/data-protection-and-edge-computing-is-a-brave-new-exciting-world-for-some-weve-been-doing-it-for-30-years/
An fairly old article from Grosvenor Technology's 'USA website', but one which complements Safetell's Achilles Carbon Certification Programme news earlier this year, and which highlights NWT's very long-standing and strong commitment to sustainability:-
"How we are challenging ourselves to be even more sustainable…
Marie-Claire Dwek
CEO for Newmark Security
20 February 2020 1 min read
Thought leadership
Sustainability has been front of mind at GT Clocks for decades. We build products that last and platforms that can reduce a building’s energy consumption. But clearly, we are not doing enough. Although the effects of human-made climate change have been felt throughout the world for many years, the horrifying devastation seen in Australia seems to have made the world sit up and take stock.
Davos 2020 has already been and gone this year. Listening to the various speakers, while there are many advocates for change, progress needs to be faster. As we await sweeping reform from our governments we, as both business leaders and citizens, must look internally and improve where we can. We are responsible for our behavior and what we represent as organizations.
This is what GT Clocks have been doing:
For all products we carefully consider how power consumption can be minimized during the design, influencing the choice of components and architecture. Fundamental to the system architecture design of any product is the ability to monitor, diagnose and remedy issues remotely. This reduces and offer negates the need for unnecessary engineer site attendance and related carbon emissions. At GT Clocks we have a strong track record of maintaining compatibility with our legacy products so as software moves on there is no necessity to replace existing hardware.
With both staff and customers throughout the world, travel is an inevitable part of doing business. As well as choosing rail travel where possible, we have recently invested in improved online business communication tools further reducing fossil fuel consumption.
This is what GT Clocks are doing next:
We have recently launched an internal project to investigate energy efficiency at every level within our business. We are reviewing all vendors and analyzing the footprint of our entire supply chain. Finally, for now, we are researching an offsetting program connected to our industry and would welcome engagement from local organizations looking for support in this endeavor."
https://gtclocks.com/insights/thought-leadership/how-we-are-challenging-ourselves-to-be-even-more-sustainable/
"What are the current automatic door legislations that apply for powered pedestrian doors?
... Compliance with the BS EN 16005:2012 standard is crucial for manufacturers, installers, and owners of powered pedestrian doors in the UK. Adhering to this standard helps ensure the safety of individuals using the doors, reduces the risk of accidents or injuries, and demonstrates a commitment to providing a safe and accessible environment. It is important to note that safety standards and regulations may evolve over time, and it is recommended to stay up to date with the latest revisions and guidelines provided by relevant regulatory bodies and industry associations.
Regular Maintenance & Servicing
The BS EN 16005:2012 standard emphasises the importance of proper installation by trained professionals and routine maintenance to ensure the ongoing safety and reliable operation of the doors. At Safetell, we help our clients ensure the safe and reliable operation of their automatic doors with our automatic door maintenance service. We ensure that your automatic doors operate efficiently and meet automatic door legislation requirements.
Contact our professional experienced team to find out more about automatic door installation and maintenance, and how we can help."
http://www.safetell.co.uk/insights/automatic-door-legislation/
Safetell is one of the country's most established and reputable specialists in security systems and automatic doors, which helps to explain its growing success in the automatic doors market:-
" ... How Safetell can help with your automatic door needs
At Safetell, we’ve established a reputation as one of the UK’s most trusted companies when it comes to access control and security for all kinds of buildings. Our products and services have been developed over 30 years. ..."
http://www.safetell.co.uk/insights/how-much-do-automatic-door-openers-cost/
And another new Safetell article on automatic doors, highlighting the regulatory and safety drivers fuelling this huge and exciting expansion opportunity for the company:-
"What are the current automatic door legislations that apply for powered pedestrian doors?
13 June, 2023
Automatic door Legislations, an overview
Meeting automatic door legislation and adhering to safety standards is crucial for any organisation where one is installed, and automatic door safety is of paramount importance to ensure the well-being and protection of anyone who uses it. Automatic doors provide convenience, accessibility, and efficiency, but they also pose potential risks if not properly maintained and operated. By complying with automatic door legislation, businesses can ensure that their doors meet the necessary automatic door standards, including the installation of appropriate sensors, safety features, and emergency systems.
Meeting automatic door standards and complying with automatic door legislation not only safeguards the welfare of users but also helps mitigate liability and legal risks. It demonstrates a commitment to creating a safe environment and enhances the reputation and trustworthiness of the organisation.
Compliance with automatic door legislation helps to foster a culture of safety, ensuring that all individuals, including those with disabilities or limited mobility, can access and navigate spaces with ease and confidence.
Which safety standard is commonly used for automatic doors?
In the UK, the automatic door standards and safety regulations for powered pedestrian doors are governed by various codes and guidelines, with the primary standard being BS EN 16005:2012.
The BS EN 16005:2012, officially titled “Power operated pedestrian door sets – Safety in use – Requirements and test methods,” sets out the automatic door standards and guidelines for the safe operation and installation of powered pedestrian doors. It specifically focuses on the automatic and power-assisted swing and sliding doors used for pedestrian access.
The standard encompasses a range of safety aspects to protect individuals using these doors. It addresses potential hazards and risks associated with the operation of powered pedestrian doors and provides guidelines to mitigate these risks. The standards cover the management of a number of key elements in powered pedestrian doors including sensor technology and safety features, activation devices, door opening and closing forces, safety measures for emergency situations, as well as door installation and maintenance. ... "
http://www.safetell.co.uk/insights/automatic-door-legislation/
And GT's groundbreaking new GT8 terminal, with its multiple new potential applications and possibilities, looks well aligned with the 'knowledge is power' principle:-
23rd Jan 2023 7:00 am RNS Final Results
" ... We have developed for Protime, our largest European partner, an additional functionality within our Android feature set that enables them to adopt the new GT8 time clock. ..."
https://www.lse.co.uk/rns/NWT/final-results-fjybevmguogyzsg.html
"GT8
Designed to excel in high-capacity environments
A high level of data and biometrics security
The GT8 offers a new approach to HCM with its high functionality and intuitive usability. Designed to control costs and enhance workforce productivity, this time clock will revolutionise internal working processes. Developed to deliver seamless and simple data security and safeguarding that provides assurance to managers and employees, the GT8 offers an intuitive experience for all users.
A high-capacity finger biometric and facial recognition solution for large workforces, the GT8 delivers high performance that will streamline your HCM processes. The touchless interface reduces the risk of contamination, keeping the environment safer and more hygienic.
The GT8 combines robust longevity with modern security practices, making it an effective investment in the protection and management of a workforce, no matter how large.
Utilising the AndroidTM 10 operating system, applications for the device are easily developed using familiar tools and frameworks for enhanced personalisation within an organisation."
http://www.grosvenortechnology.com/product/gt8/
A useful new article from the website of Protime, Grosvenor Technology's largest European partner:-
"Why it's a good idea to register all your company activities
8 June 2023
10 Timeregistration
Your company has different departments. Within those departments, your employees may perform different types of activities. You want to record effortlessly how long all those tasks and subtasks take. This allows you to know the cost of a finished product or service you deliver. Allow us to explain why a multilevel activity solution is an added value.
Your time and attendance registration is on point. You know which of your employees are present, who works for which department, what their timetables are, when leave was scheduled, and so on. But do you know how much time all tasks take up? Can you say with certainty how many people you need when you want to perform a certain activity in a predefined time frame? Can you record that somewhere?
Measurement is knowledge
First of all, you need to identify how much time your (sub)tasks take up. Here’s a list with several possible reasons why: ...
This means that thanks to activity logging, you can plan and distribute your employees' tasks within the company more efficiently. You know perfectly who you need for which task and when. Moreover, you can very easily determine the personnel cost of a finished product or service.
"But my employees themselves can specify how much time they need for an activity". Was this what you were thinking? Then we would like to refer you to the ‘planning error’. This refers to the common fact that people often misjudge their time needed for a task and there is nothing they can do about it. By actively recording, you can measure and therefore know with certainty. ..."
https://www.protime.eu/en-gb/news/why-its-good-idea-register-all-your-company-activities
Protime is a European market leader in time registration and personnel planning, and GT is one of its most important partners:-
"Grosvenor Technology
Protime works in partnership with Grosvenor Technology for hardware solutions in the fields of access control and workforce management solutions."
https://www.protime.eu/en-gb/about-us/partners
It's a bit like buses: you can wait ages for one, and then two come along at once.
Though fortunately with NWT you can ride both at once ... and for the price of just one ticket.
And now looks to be an ideal time to hop aboard the joyride.
Great growth opportunities, at a lowly-rating, and nicely profitable, are pretty rare.
But to get TWO such opportunities (i.e. Grosvenor Technology and Safetell) within just the ONE share is (virtually) unprecedented.
'Seek and ye shall find' they say, but I think that you would be looking for a long time - or even perhaps forever - without finding something as good as this.
And if NWT doesn't multibag within the next couple of years (or even earlier) then I'll be a monkey's uncle.
The automatic doors market looks to be a huge expansion opportunity for Safetell, and one which it seems to be seizing zealously, already achieving significant success:-
17th May 2023 7:00 am RNS Year-end trading update
" ... The Group's market share has continued to grow in Automatic Doors Services, with new national service contracts increasing recurring revenues. ..."
https://www.lse.co.uk/rns/NWT/year-end-trading-update-5xr1fml6a08a34o.html
Safetell's size, and the fact that it is 'system agnostic', should mean that it is far better equipped to handle national servicing contracts than the smaller players in this fragmented industry.
And with other providers having a poor reputation, Safetell could well be meeting a compelling gap in the market.
Indeed there's no reason why it can't become a 'go-to' provider for such national servicing contracts, if indeed it isn't already.
Safetell reported over £15M. of turnover in its year ending 30.4.15, and the UK autodoor servicing market is estimated at twice the size of Safetell's traditional markets; and can also provide higher margins and more recurring revenues.
"Automatic door service and maintenance
Downtime on your automatic doors can have a significant effect on your business.
Our clients minimise this risk and avoid costly, unplanned, emergency expenditure, by getting their equipment serviced and maintained regularly by Safetell.
We are a customer focused service provider, ‘repair not replace’ mentality.
System agnostic, we are always able to give the best advice on equipment regardless of the make and model. This means that we are not trying to sell unnecessary products when they can be repaired and maintained for many years. Existing providers in the automatic door servicing industry have a poor reputation, and rather than repair existing parts they will replace with their own."
https://www.safetell.co.uk/automatic-door-service-maintenance/
"Automatic Doors Require Annual Maintenance to Meet Safety Standards
... What Is the EN 16005?
The EN 16005 directive has been in effect since 2013 and applies to major European economies such as the UK, Germany, France, Italy, and Spain. The EN 16005 directive, which applies to all European Committee for Standardisation countries, mandates strict safety standards for power-operated doors used for normal access, in escape routes, and as fire resistance and/or smoke control door sets. The directive requires the installation of safety sensors and door operators that are in constant communication to prevent people and goods from being hit by moving doors.
Annual maintenance by approved technicians is also required for all doors covered by EN 16005 to ensure safety standards are met. Failure to comply may result in potential liability for owners if an incident occurs due to a faulty door. Although the regulations were intended for use in Europe, they have been adopted by nations in the Middle East and Asia as well. The scope of the directive covers all significant hazards, hazardous situations, and events relevant to power-operated door sets when they are used as intended and where conditions of misuse are reasonably foreseeable by the manufacturer.
How Safetell Can Help
Safetell provides automatic door servicing and maintenance services, including annual checks for compliance with EN 16005 regulations and repairing faults to minimise downtime. The company follows a “repair not replace” approach, helping customers save money by avoiding whole system replacements. Safetell provides unbiased advice regardless of the makes and models of the equipment, and it has a proven track record in automatic door servicing and maintenance. If you need help becoming compliant with EN 16005 or require any additional support or advice, get in touch with a representative."
http://www.safetell.co.uk/insights/automatic-doors-require-annual-maintenance-to-meet-safety-standards/
"Automatic Doors Require Annual Maintenance to Meet Safety Standards
01 June, 2023
Automatic doors offer a range of benefits that make them an increasingly popular choice for commercial buildings, hospitals, and other public spaces. They can improve accessibility for people with disabilities, reduce energy consumption by regulating the temperature and minimising the need for heating and cooling, and can be equipped with safety features to provide enhanced protection and access control.
It’s no wonder that many companies around the world are opting to install automatic doors. However, they must remain cognisant of increasingly stringent safety regulations and standards that are applicable, including the widely adopted EN 16005 directive.
The Size Of the Market
The global automatic door market was valued at $18.44 billion in 2021 and is projected to reach $30.09 billion by 2027, with a CAGR of 8.27% during 2022-2027, according to IMARC Group. The report cites significant growth in the construction industry and the increasing demand for secure and convenient door access for differently-abled individuals as drivers of growth.
The impact of COVID-19 has also led to a rise in demand for hands-free access to public places. Technavio’s report projects a YOY growth of 5.23% at a CAGR of 5.91% during 2021-2025, with APAC expected to account for 49% of the market growth, with China being the most important market for automatic doors. A surge in investment in commercial real estate projects with upgraded facilities in APAC is expected to drive market expansion. Additionally, Europe and many locations in Asia and the Middle East will comply with EN 16005 regulations for all new power-operated doors installed after 10th October 2012, used for normal access, in escape routes, and as fire resistance and/or smoke control door sets.
The European automatic door sensor market is expected to grow at a CAGR of 4.4% from $305.3 million in 2019 to $427.5 million in 2027, according to a Research and Markets forecast. The report attributes the growth to the popularity of smart airports and the increasing investment in smart airport technologies such as smart sensors, communication and network systems, cameras, RFID tags, and wearable devices by European governments. The aviation industry’s growth has also complemented the development of associated technologies, such as internet connectivity, leading to further market growth.
It’s therefore important that all businesses familiarise themselves with the EN 16005 directive and take care to adhere to the requirements. ..."
http://www.safetell.co.uk/insights/automatic-doors-require-annual-maintenance-to-meet-safety-standards/