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30th Apr 2024 3:33 pm EQS Thalassa Holdings Ltd: Annual Financial Report

https://www.lse.co.uk/rns/THAL/thalassa-holdings-ltd-annual-financial-report-remcxj11jwvdhvp.html

Thanks Dab.

It's interesting that NWT is the only one of THAL's listed holdings that THAL mentions; and that it talks about it before its wholly-owned unlisted subsidiary ARL (Autonomous Robotics), which in its previous annual report was its only holding (listed or unlisted) that it talked about.

So it looks like NWT is now THAL's 'blue-eyed boy' - or rather girl ... what you might call its 'Thalassa Lassie':-

"Maybe looks a little sassy, whoa

But to me she's real classy, whoa"

"Tallahassee Lassie" - Freddy Cannon

https://www.youtube.com/watch?v=_BMPdbzDgus

Though as you have noted, THAL's update predated NWT's bullish full year trading update (by a couple of weeks).

And especially in light of this new NWT update, THAL's projections are looking far too conservative.

So I wonder if THAL fully appreciate quite what a gem they are sitting on here in NWT?

A complementary area to digital mental health care is design in mental health:-

"Design in Mental Health"

"4-5 JUNE 2024

MANCHESTER CENTRAL"

https://www.designinmentalhealth.com/

"The Purpose

Design in Mental Health Conference, Exhibition and Awards is the annual event where organisations and professionals interested in advancing the cause of good design in mental health settings meet to learn, share and explore collaboration.

The event is organised by Step Exhibitions with Design in Mental Health Network, a charity which aims to improve mental health outcomes by promoting knowledge exchange, co-production and quality standards in design in mental health settings. There is a profit share arrangement between the two organisations, and the funds raised will be declared by the Charity and be publicly available in their annual report.

For more on Design in Mental Health Network, please see www.dimhn.org.

If you are involved in the design, build, equipping, refurbishment, or management of facilities for mental health treatment, or are a clinician or academic in the field of mental health, Design in Mental Health is a place to be informed and inspired, share experience and best practice, discover new products and solutions, and to have meaningful conversations on the issues that matter."

https://www.designinmentalhealth.com/about/

And today and tomorrow, NWT (Newmark Security) subsidiary company Grosvenor Technology is exhibiting at this Design in Mental Health event:-

"Grosvenor Technology

3,305 followers

2w · Edited

Understanding the role of design in mental health settings is an important one for us at Grosvenor Technology. So we are pleased to be accompanying Third Millenium at the Design in Mental Health 2024 annual conference in Manchester on 4th - 5th June. Register for free here ..."

"Grosvenor Technology

3,305 followers

4h · Edited

We're all set up at the Design in Mental Health 2024 conference and exhibition - head to stand #112 to experience JanusC4, our #accesscontrol solution working in conjunction with Third Millenium's access control readers. ..."

https://uk.linkedin.com/company/grosvenor-technology

And still another excellent new article just added to Grosvenor Technology's website:-

"Insights

The GT8: Beyond Time & Attendance Tracking

As Grosvenor Technology’s flagship HCM device, the features of the GT8 go far beyond simple time and attendance management to embody something far more exciting – a new way to propel your business with rich data and streamlined processes.

Ben Lagden

Commercial Director

Time clocks have come a long way from the mechanical punch clock of the past. Over the past 50 years, digital time clocks have taken over the space, offering a modern solution to an age-old problem – how to effectively and accurately manage your people.

But a time clock from 1990, or even 2012 is a long way from what they can do today. And the GT8 is leading the charge with innovation and user simplicity. As Grosvenor Technology’s flagship HCM device, the features of the GT8 go far beyond simple time and attendance management to embody something far more exciting – a new way to propel your business with rich data and streamlined processes.

Accuracy and Security for the Modern Workforce

Security and reliability are at the heart of the GT8, with the option of advanced biometric identification. You can choose from facial recognition, fingerprint scanning, or a combination of both (as well as more traditional means, such as proximity fobs and cards) to ensure accurate tracking of your employees’ time. And let’s not forget just how powerful the GT8 is – the device can clock someone in or out in under a second, making it a useful companion at start and end of shifts.

For many of the GT8’s users, it’s the effortless efficiency of employee time tracking that sets it apart. Staff feel assured by the reliable clocking – they’ll always receive accurate remuneration for their worked hours, and for management, there’s the elimination of time theft via buddy punching. It’s a win win.

But above all else, the GT8 provides absolute data privacy assurance. The GT8 has been designed with compliance in mind. The inbuilt robust encryption protocols protect sensitive employee information and ensure you remain compliant with data regulations – whether that’s in the UK, Europe, the US or Asia. ..."

https://www.grosvenortechnology.com/insights/the-gt8-beyond-time-attendance-tracking/

And yet another excellent new article just added to Grosvenor Technology's website: again from Paul Smith, Head of Quality & Compliance.

And this is his third such article in a fortnight ... when you're hot, you're hot!

"Insights

Building Trust Through Compliance: Our Commitment to Secure Products

Grosvenor Technology is proud to announce that we've achieved PSTI 2022 compliance certification.

Paul Smith

Head of Quality & Compliance

Nowadays, cyber threats have become increasingly more sophisticated and the need to safeguard a business and its data has never been more important. In the UK, this need has been met with April’s implementation of the Product Security and Telecommunications Infrastructure (PSTI) Act 2022.

This new legislation aims to increase the standards for cybersecurity across internet-connected products, from smart TVs to HCM devices to access control systems. At Grosvenor Technology, we’re committed to the safety and security of our customers, and our recent achievement of PSTI 2022 compliance certification demonstrates our dedication to the protection of our customers and their data.

What is the PSTI Act?

The Product Security and Telecommunications Infrastructure (PSTI) Act is a UK law that establishes mandatory security requirements for ‘smart’ products – those products that connect to the internet. It aims to protect consumers and businesses from cyberattacks by ensuring products are designed with security in mind from the outset.

The PSTI outlines specific requirements, including:

• Stronger Passwords: Default passwords are banned.

• Vulnerability Reporting: Manufacturers must have a clear vulnerability disclosure policy.

• Transparent Support: Customers must be aware of the defined support period of a device where security updates are available.

Grosvenor Technology’s Commitment to Security

Achieving PSTI 2022 compliance was an important step for Grosvenor Technology. We have been able to ensure our products not only meet but exceed the expected requirements, offering our customers peace of mind.

At Grosvenor, security is not an afterthought – it’s at the core of our business. And by embedding security into every stage of development, our solutions are resilient to cyber threats and provide our customers and end users with peace of mind.

Our commitment to security extends beyond just achieving compliance. We actively monitor emerging threats, continuously update our products, and provide ongoing support to ensure our customers’ systems remain secure.

A Secure Future Together

We believe that trust is a vital aspect of every successful business relationship. By achieving PSTI 2022 compliance, we are reaffirming our commitment to providing our customers with the most secure and reliable products possible."

https://www.grosvenortechnology.com/insights/building-trust-through-compliance-our-commitment-to-secure-products/

Today is International Human Resources Day 2024: and with a theme that emphasises HCM (Human Capital Management) technology like NWT's:-

"The CIPD celebrates International HR Day 2024

Join the global celebrations of the people profession and explore engaging discussions on ethical tech and AI integrations, future workplaces and more

Join us in celebrating this year’s IHRD International HR Day on 20 May.

This year’s theme is HR Shaping the new future with four sub themes of:

• Ethical use of technology and AI

• Future workplaces

• People leadership

• Continued innovation in skills and education ..."

https://www.cipd.org/uk/about/news/cipd-celebrates-international-hr-day-2024/

And indeed Grosvenor Technology is exhibiting at the CIPD exhibition in London in barely three weeks:-

"An Eventful Season For Grosvenor Technology

As part of Newmark Security, Grosvenor Technology is gearing up for a busy exhibition season showcasing its industry-leading security and workforce management solutions worldwide. From Birmingham to Amsterdam to Chicago, the Grosvenor team is demonstrating the power of its technology designed to transform workplace operations.

This spring, you can meet key team members at:

• The Security Event 2024 (Birmingham NEC, April 30 – May 2)

• HR Technology Europe (RAI, Amsterdam, May 2-3)

• CIPD Festival of Work 2024 (ExCel, London, 12-13 June)

• SHRM Annual Conference and Expo (Chicago, June 23-26) ..."

https://newmarksecurity.com/insights/an-eventful-season-for-grosvenor-technology/

Like the term 'mobile phone', the term 'timeclock' can be a bit of a misnomer, as GT themselves point out; but it's a term that people seem happy to run with:-

"Experience Meets Innovation

For nearly 50 years, GT Clocks has been providing Human Capital Management (HCM) solutions. Our success has relied on our continuous innovation, which is driven by our extensive industry experience. GT Clocks is committed to delivering quality solutions and services to our clients.

While our products and services have evolved over time, our core philosophy remains unchanged: to provide our HCM partners with dependable and technologically advanced devices, data-entry terminals, or what many of our valued partners still affectionately refer to as ‘timeclocks.’ We don’t mind; we’re proud to be known as the ‘clock guys.’

At GT Clocks, we take immense pride in our exceptional team. Whether it’s in Operations, Sales, or Development, we foster a collaborative approach to deliver more than just secure, intelligent solutions."

https://gtclocks.com/about/

The term 'technologically advanced edge computing data-entry terminal devices' would probably be more accurate for GT's solutions ... but it doesn't have quite the same ring to it!

So timeclocks it is then ... and the market opportunity is huge.

One interesting snippet from yesterday's Marie-Claire interview is that NWT now have twelve staff working for GT Clocks in America, up from eight not that long ago, and from nine at the time of the last AGM (31.10.23):-

"View all 8 employees"

https://www.linkedin.com/company/gt-clocks

dab808 Posts: 255 Price: 48.50 Strong Buy AGM (part 1)

"... We discussed the US business in more detail than ever before. We have 9 FTE based in the US. They are doing an amazing job and across HCM we are now working with 40 software vendors. These US staff is supported from the UK, this provides a very cost efficient way of working. As reported in the RNS today subscriptions are up significantly. As the software vendors are doing much of the business development, and we support from the UK in the background, we do not need to add significantly to the head count as we grow. We have a very scalable and low overhead operating model with reoccurring revenues. Not only is this growing rapidly in the US but we now have the rest of the world (reported as up 35% from a low base to scale on) again without adding much overhead. Given our growing presence in the US, Marie-Claire is out in the US in a few weeks time and will present to some US investors our business and model - exciting stuff. ..."

https://www.lse.co.uk/ShareChat.html?ShareTicker=NWT&share=Newmark-Security&thread=FACF7D8B-CB31-41F2-AF44-D12D4265B1BA

And America is enjoying boom conditions:-

"The U.S. economy is on a hot streak it hasn't seen in 20 years

Provided by Dow Jones

Apr 17, 2024 1:58pm

By Jeffry Bartash"

https://www.morningstar.com/news/marketwatch/20240417287/the-us-economy-is-on-a-hot-streak-it-hasnt-seen-in-20-years

And America is becoming increasingly attractive to investors:-

"Why are investors increasing allocations to US equities?

Expensive for a reason

• US equities have continued to outperform global markets leading to significantly higher valuations than their global peers.

• While a lot of this is driven by some mega-cap names, or the ‘Magnificent 7’, even without these, there would be a valuation gap.

• One simple explanation is that investors are willing to pay for more profitable companies – US company earnings continue to impress.

Too big to ignore, they own the future

• A number of US companies are shaping the world of tomorrow, to some extent owning the future – whether in tech or sustainability.

• The US makes up more than half of global stock markets by capitalisation and offers a high concentration of well-established companies, with global operations and diverse revenue streams.

Diversity of choice ..."

https://www.franklintempleton.co.uk/our-funds/investment-topics-in-focus/the-case-for-us-equity-investment

So NWT is a timely opportunity to obtain top American growth exposure at a bargain basement price.

Without the foreign dealing costs and potential research etc. difficulty of buying American stocks directly.

14th May 2024 7:00 am RNS Full year trading update

" ... Financial Position

The Group's cash at 30 April 2024 was £1.1 million (30 April 2023 cash: £0.6 million). This increase was due to an improvement in operating cashflows driven by higher revenues and increased margin percentage, particularly in the second half of the year.

FY24 cashflows were also helped by an easing of inventory levels following the building up of positions over the last couple of years to mitigate against the supply chain challenges which have now eased.

The Group currently has capacity within its UK and US invoice financing facilities to provide further working capital headroom as the Group continues to grow. Banking net debt at 30 April 2024 was £2.0 million (30 April 2023: £3.0 million). ..."

https://www.lse.co.uk/rns/NWT/full-year-trading-update-4e9ai7eo5n4a8ts.html

fft100 Posts: 33 Price: 102.50 No Opinion

RE: Strong update 14 May 2024 11:22

"Dab808, thanks for the update.

However, the reductions in inventory, and thus conversion to both cash and profits will probably be a one off, unless they still have excess inventory in which case it will be a 2 year one off (if you get me !). The underlying cash and profits increases will be a lot lower. ..."

Fft,

An easing of inventory levels should be largely profits-neutral, other things being equal: i.e. simply a change from one type of current asset (inventory), to another type or types (i.e. cash etc.)

It's an understandable misperception, as cash generation is associated with profits, but no, this shouldn't have any great impact on the profitability, I wouldn't have thought.

Though there could potentially be some lesser impact on profitability, depending upon the speed of inventory turnover, & prices paid.

Cash is different, and inventory reduction has helped the cash position, as the company has stated: but it makes it plain that this was quite a subsidiary factor in the cash increase, so not the major factor that you are suggesting.

And to the extent that it's a 'one-off' it's still a useful contribution; and as cash-generation tends to lag profits in a growth business, and profits are increasing, cash-generation should continue to increase.

"Security Trends: Six Ways to Improve Safety in 2024

... Trend 3: Sustainability

The critical path towards net zero set out by the Paris Agreement means strategies that drive more sustainable practices are increasingly important across all industries. Security is no different, with 56% of survey respondents rating sustainability as a top priority for 2024, while 74% of end users say they’ve seen the importance of sustainability increasing over the past year, and 80% of partners report the trend growing in importance among their customers.

Advancements in technology enable organisations to embrace more energy-friendly security and identity practices. The rise of mobile device usage and the shift towards cloud-based solutions reduce waste and minimise energy use, helping to meet sustainability goals.

Trend 4: Biometrics

Facial recognition, fingerprint and palm print authentication, and voice authentication remain an area of top interest for 50% of respondents. While there are ongoing concerns over privacy that must be addressed through regulation, biometrics’ efficiency, security, and variety of use cases mean it is increasingly popular among organisations of all sizes.

The report states that the global market for biometrics is expected to grow from $47.8 billion in 2023 to $86.1 billion by 2028, and its survey backs that up: 8% of end users plan to test or implement some form of biometrics in the next year and 22% plan to do so in the next three to five years.

Trend 5: The Cloud

Over a third of respondents (36%) said the rise of cloud-based authentication or identity management delivered as a subscription service is an important trend. These services simplify the process of creating and managing identities through a secure cloud delivery model. Currently, 24% of end users use cloud-based identity management, while another 24% are in the process of implementing systems.

This rise of centralised platforms for identity data, user authentication, and resource-access authorisation delivered as a service is aligned with the rise of mobile access technologies and Zero Trust goals. ..."

https://www.grosvenortechnology.com/insights/security-trends-six-ways-to-improve-safety-in-2024/

Another new article just added to Grosvenor Technology's website: & it's another excellent one from Paul Smith, Head of Quality & Compliance:-

"Insights

Security Trends: Six Ways to Improve Safety in 2024

In an era of rapid technological advancement, the security landscape is in a perpetual state of flux, with new threats and bad actors constantly emerging.

Paul Smith

Head of Quality & Compliance

In an era of rapid technological advancement, the security landscape is in a perpetual state of flux, with new threats and bad actors constantly emerging. In response, the security industry is continuing to push into new frontiers, with digital solutions driven by the likes of artificial intelligence (AI), biometrics, and multi-factor authentication.

Enterprises are facing ever-evolving challenges in safeguarding their physical and digital infrastructure. Understanding the dynamics behind new threats is key to fortifying defences and requires staying on top of emerging trends to make better-informed decisions. Therefore, the 2024 State of Security and Identity report, commissioned by HID, is an essential read for the industry.

The report surveyed over 2,600 end users and industry partners worldwide and identified the six major trends currently shaping security and identity.

Let’s take a look.

Trend 1: Multi-factor authentication

A large majority (85%) of respondents rated multi-factor authentication (MFA) among the most important trends for the coming year, while 83% of end-user respondents said their organisation uses MFA.

This widespread adoption of MFA is a clear signal that we are on a journey towards Zero Trust, a worst-case scenario approach that verifies every request with the assumption that it came from an uncontrolled source or network. While Zero Trust can appear overwhelming to implement, MFA is a relatively simple stepping stone for organisations with medium- or long-term Zero Trust goals.

Unsurprisingly, the report found that larger organisations are further down the path towards Zero Trust: 16% of enterprises with over 100,000 employees and 14% of those with 5,001 to 9,999 employees have implemented Zero Trust, while only 5% of those with under 100 employees have done so.

Trend 2: Mobile identities

Nearly three-quarters of respondents (72%) said mobile identity was a top 3 trend, while 64% of organisations reported some level of mobile ID deployment, with that number expected to increase to 79% within the next five years. Industry partners are particularly optimistic, stating that 94% of their customers will have deployed mobile IDs.

... the convenience of authenticating themselves using a device they already carry is attractive for end users. Also appealing is that security safeguards mean identities can be protected even if the mobile device is lost or stolen. ..."

https://www.grosvenortechnology.com/insights/security-trends-six-ways-to-improve-safety-in-2024/

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