Newmark offers maiden dividend

Newmark Security is offering its first dividend payment despite a drop in turnover for the year as it eyes an increase in full year operating profits.The company says it aims to pursue a progressive dividend policy, subject to meeting profits projections. The board has proposed a dividend of 0.025p per share. "Despite the likelihood of a continuing weak economy, current forecasts suggest that operating profits for the current year should exceed last year," the group said in Monday's company statement.For the year ended 30 April 2009 profit from operations for continuing businesses was £1.477m compared to £1.917m. Turnover from continuing operations was £13.0m compared to £14.9m in the previous year."The trading activities in the year have been achieved against the backdrop of the economic climate and recession that has affected all businesses. This has particularly affected the asset protection division whose products main markets have always been the financial and banking sector," the group added.Turnover at its Electronic Division fell to £6.6m from £7.5m while pre-tax profit slipped to £1.5m from £1.6m.Its Asset Protection Division saw turnover fall to £6.3m from £7.4m while pre-tax profit halved to £477,000.