UPDATE: Newmark Security's FY2011 1H Hit By Order Delays

(Adds executive and analyst comments, share price.) By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Security systems firm Newmark Security PLC (NWT.LN) Monday said it expects lower revenue in the first half of the 2011 fiscal year on the year, due to orders being postponed before the U.K. general election and the emergency budget, following a 23% rise in pretax profit in the 2010 fiscal. Finance Director Brian Beecraft said customers buying products from its asset protection business tend to order two months ahead of installation. However, as a result of delays--which he attributed to the U.K. general election--orders slumped in March and April, affecting sales in May and June. "It's now showing signs of [orders] coming back," Beecraft said, adding that the company wouldn't be able to match last year's fiscal first half revenue of GBP7 million. Newmark said trading in the first few months of fiscal 2011 has been varied, but it expects revenue to be up in the second half. For the year ended April 30, Newmark posted pretax profit of GBP1.6 million, compared with GBP1.3 million a year earlier. Revenue rose to GBP13.8 million from GBP13 million, on an 18% increase from its asset protection division. Newmark proposed a dividend of 0.0275 pence a share, up from 0.025 pence last year. Seymour Pierce analysts have kept a "buy" rating and a 2.4 pence target price, and add that Newmark Security has a strong position in growing markets of electronic access control and retail asset protection. They have kept their forecasts for the year to April 2011 at an adjusted pretax profit of GBP1.7 million and earnings per share of 0.35 pence. At 0918 GMT, shares were down 0.3 pence, or 14%, at 1.8 pence, while the wider AIM index was up 0.6%. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires July 26, 2010 05:52 ET (09:52 GMT)