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Paycor HCM (NASDAQ: PYCR), a major North American partner of Grosvenor Technology, has just announced its second quarter results today, after close of the US markets.

And they should further buoy the confidence of NWT shareholders:-

"Paycor Announces Second Quarter Fiscal Year 2024 Financial Results

February 07, 2024 16:15 ET

• Q2 Total revenues of $159.5 million, an increase of 20% year-over-year, while expanding margins

• Q2 Recurring revenue of $147.2 million, an increase of 18% year-over-year

• Raised FY’24 revenue guidance to $650 - $656 million, an increase of 19% year-over-year at the top end of the range

CINCINNATI, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (“HCM”) software, today announced financial results for the second quarter fiscal year 2024, which ended December 31, 2023.

“Paycor’s strong 20% year-over-year revenue growth is the latest demonstration of our success expanding employees and PEPM on our platform,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “Quarterly recurring revenue growth accelerated 2% sequentially driven by continued success up-market and strong year-end form filings while our Embedded HCM Solution gained momentum.”

“We are proud of the operational performance across the business, which delivered margin improvement of 130 basis points year-over-year while we continued to invest in powerful analytics that empower frontline leaders. We remain optimistic about the HCM demand environment and opportunity to deliver strong revenue growth and improved profitability over the longer-term.”

Second Quarter Fiscal Year 2024 Financial Highlights

• Total revenues were $159.5 million, compared to $132.9 million for the second quarter of fiscal year 2023.

• Operating loss was $26.2 million, compared to $31.6 million for the second quarter of fiscal year 2023.

• Adjusted operating income* was $23.3 million, compared to $17.6 million for the second quarter of fiscal year 2023.

• Net loss was $26.2 million, compared to $27.5 million for the second quarter of fiscal year 2023.

• Adjusted net income* was $18.7 million, compared to $13.6 million for the second quarter of fiscal year 2023.

*Adjusted operating income and adjusted net income are non-GAAP financial measures. Please see the discussion below under the heading "Non-GAAP Financial Measures" and the reconciliations at the end of this press release for information concerning these and other non-GAAP financial measures. ..."

https://investors.paycor.com/news-releases/news-release-details/paycor-announces-second-quarter-fiscal-year-2024-financial

NWT's other subsidiary to Safetell, Grosvenor Technology (branded as GT Clocks in America), is reported to be assisting Primark's American expansion:-

provest2013 Posts: 1 Price: 68.00 Strong Buy

Real growth drivers 18 Dec 2023 10:51

"Surely the biggest near term growth driver will come from the rollout of Primark stores in the US? 8 new stores this year and 60 by 2026, GT clocks etc should be added at each of these shops. ..."

https://www.lse.co.uk/ShareChat.html?ShareTicker=NWT&share=Newmark-Security&thread=5F9311DE-80BA-423A-8073-D83E3517A15D

Grosvenor Technology's 'USA website':-

"Your people. Their data. We help you manage both."

https://gtclocks.com/

From the website of Safetell, a subsidiary of AIM-listed Newmark Security (NWT):-

"Retail Crime in the UK – and How To Address It

01 February, 2024

Shop theft has reached record highs in the retail sector, with nearly half of retailers claiming that theft has increased dramatically in the past year. According to reports, organised crime syndicates target retailers, shoplifting or stealing high-value goods to resell elsewhere. This harrowing trend puts staff and customers at risk. ..."

https://www.safetell.co.uk/insights/retail-crime-in-the-uk-and-how-to-address-it/

From the website of Safetell, a subsidiary of AIM-listed Newmark Security (NWT):-

"Retail Crime in the UK – and How To Address It

01 February, 2024

Shop theft has reached record highs in the retail sector, with nearly half of retailers claiming that theft has increased dramatically in the past year. According to reports, organised crime syndicates target retailers, shoplifting or stealing high-value goods to resell elsewhere. This harrowing trend puts staff and customers at risk.

In 2023, Tesco announced that they would roll out hundreds of safety screens in Express stores and petrol station kiosks across the UK as a response to increasing incidents of crime against retailers, particularly a concerning increase in assaults against staff. These screens enclose the side of the till where staff are most vulnerable and stand above head height, protecting staff against assault. Designed to prevent the theft of high-value items, such as alcohol, beauty products, cigarettes, and other items often kept behind counters, it’s become a valuable deterrent against crime. ...

Cost-effective solutions like Safetell’s SafeShield UL Security Glazing safeguard staff and counter areas against physical attacks and attempts to vault over the counterwork to snatch high-value items kept behind the counter. This solution is specifically tailored for operations involving the secure transaction of goods or objects, like express retail environments or petrol forecourts. ..."

https://www.safetell.co.uk/insights/retail-crime-in-the-uk-and-how-to-address-it/

"Combatting Criminal Activity in Petrol Stations

01 February, 2024

There is an alarming increase in theft and crime in the retail sector. According to the ACS Voice of Local Shops survey, nearly two-thirds of retailers have experienced theft in their stores. More than a third say theft has increased. While all retailers are at risk, petrol forecourts are especially vulnerable.

Operating at late hours, often handling large amounts of cash, and a lack of staffing and security means that these retailers are prime targets for both opportunistic and organised criminals. ...

The best defence against these crimes is to install safety screens. Tesco and other stores have already committed to the installation of safety screens in more than 250 Express locations and petrol forecourts in a bid to improve the safety and well-being of their employees. ...

Safetell facilitates seamless operations without compromising safety with products that include the CashFast and Night Pay Hatch Drawers. ...

Safetell is Safety Pass Alliance (SPA) accredited, which means they are accredited to install products in forecourts across the UK. ..."

https://www.safetell.co.uk/insights/combating-criminal-activity-in-petrol-stations/

"Insights

Keep up to date on our product news, business announcements and industry-related content ..."

https://www.safetell.co.uk/insights/

"Retail Crime in the UK – and How To Address It

01 February, 2024

Shop theft has reached record highs in the retail sector, with nearly half of retailers claiming that theft has increased dramatically in the past year. According to reports, organised crime syndicates target retailers, shoplifting or stealing high-value goods to resell elsewhere. This harrowing trend puts staff and customers at risk.

In 2023, Tesco announced that they would roll out hundreds of safety screens in Express stores and petrol station kiosks across the UK as a response to increasing incidents of crime against retailers, particularly a concerning increase in assaults against staff. These screens enclose the side of the till where staff are most vulnerable and stand above head height, protecting staff against assault. Designed to prevent the theft of high-value items, such as alcohol, beauty products, cigarettes, and other items often kept behind counters, it’s become a valuable deterrent against crime. ...

Cost-effective solutions like Safetell’s SafeShield UL Security Glazing safeguard staff and counter areas against physical attacks and attempts to vault over the counterwork to snatch high-value items kept behind the counter. This solution is specifically tailored for operations involving the secure transaction of goods or objects, like express retail environments or petrol forecourts. ..."

https://www.safetell.co.uk/insights/retail-crime-in-the-uk-and-how-to-address-it/

"Combatting Criminal Activity in Petrol Stations

01 February, 2024

There is an alarming increase in theft and crime in the retail sector. According to the ACS Voice of Local Shops survey, nearly two-thirds of retailers have experienced theft in their stores. More than a third say theft has increased. While all retailers are at risk, petrol forecourts are especially vulnerable.

Operating at late hours, often handling large amounts of cash, and a lack of staffing and security means that these retailers are prime targets for both opportunistic and organised criminals. ...

The best defence against these crimes is to install safety screens. Tesco and other stores have already committed to the installation of safety screens in more than 250 Express locations and petrol forecourts in a bid to improve the safety and well-being of their employees. ...

Safetell facilitates seamless operations without compromising safety with products that include the CashFast and Night Pay Hatch Drawers. ...

Safetell is Safety Pass Alliance (SPA) accredited, which means they are accredited to install products in forecourts across the UK. ..."

https://www.safetell.co.uk/insights/combating-criminal-activity-in-petrol-stations/

"Insights

Keep up to date on our product news, business announcements and industry-related content on how to effectively and efficiently secure and maintain your organisation."

https://www.safetell.co.uk/insights/

A final point about the debt I would make is that some debt can actually be a GOOD thing.

From Hargreaves Lansdown "Investment Times", Issue 150 - autumn 2021, page 28, re debt:-

"There's a school of thought that says debt is always bad for a company's balance sheet. I disagree. Debt in moderation has the potential to boost results and fund expansion that would otherwise require the issue of new shares.... the important thing is that companies invest in projects with a higher rate of return than the interest rate. ...Of course debt needs to be kept within sensible limits. Unfortunately, there's no iron rule for what classes as sensible - it depends on the exact details of the particular business ..."

Net cash stagnating on a company's balance sheet can be a sign of a 'go nowhere' company with its best days behind it, & no good business use for the cash.

And it can be similar with dividends: Warren Buffet's Berkshire Hathaway vehicle (a 10,000-bagger) has NEVER paid a dividend.

Indeed of the more than 700 companies listed on AIM, only c. 200 are dividend-paying.

So I would prefer a company with very exciting growth opportunities, like NWT, which of course need money to exploit them.

How much do you think it costs to 'conquer America', with exciting technology, like NWT have done?: it's not cheap, but now it's payback time.

Dab808 Posts: 219 Price: 72.00 Strong Buy

Thoughts "we remain a strong buy!" (of course I would say that) 30 Jan 2024 11:36

" ... So to summarise, I believe there will be a profit between £0.7m and £1.5m for FY 2024! And for FY 2025 based on similar a similar approach a minimum of £1.5m to £3m. ..."

Dab,

Two particular points to note re this:-

1. NWT would have no tax to pay on this profit, because of prior tax losses (NWT should have c. £6M. in tax credits).

2. Pre-tax profit is stated AFTER debt repayments (capital & interest).

So by the end of its year ending 30.4.25, based on Dab's forecasts, NWT's net debt could potentially be history.

And that's even without any reduction in inventory, which has been held at heightened levels because of global supply chain challenges.

And once the debt is paid off, that alone should give an immediate further boost to profitability.

Note that NWT already has net assets greater than its market capitalisation, despite writing off £ millions of R&D investment to the profit-&-loss account as it occurs - rather than capitalising it like some less prudent technology companies.

And if you were to net off NWT's inventory against net debt, that could potentially neutralise the net debt by the end of NWT's current year ending 30.4.24.

The debt payments and interest are also very well covered, with plenty of leeway.

And the only debt with any covenant requirement is a Coronavirus Business Interruption Loan Scheme ("CBILS") loan, which are treated comparatively benignly.

The rest of the debt is invoice discounting, which is far less expensive than invoice factoring.

In invoice factoring, the customer pays the factor company directly. Whereas in invoice discounting, the customer doesn't pay the discounter company, but pays the same company as normal (i.e. NWT in this case).

Invoice discounting is typically used by larger companies than with invoice factoring, and with more creditworthy customers.

Also remember that NWT's last new placing of new shares was nearly 20 years ago - and even this was to help fund an acquisition.

Since then NWT has successfully navigated the credit crunch a decade and a half ago, and the COVID-19 global pandemic earlier in this decade, all without any real dilution.

So well done to them for that, and I think they have earnt a lot of investor respect and trust for this.

martyn's law generated business will be the *****essential non-discretionary business: legally required, and also of massive importance.

the risks to life and property being combated are just vast, especially with increased global conflict at the moment, now including new uk involvement - in helping to protect red sea shipping.

and the potential economic hit from a major terror attack scaring people away from public places could be many billions.

nwt clearly has very valuable products, services, and expertise to help combat these threats, with demand likely to outstrip supply.

and as the investment community wakes up to this new law and its implications (which includes increased costs for many businesses) i would expect to see nwt highlighted as a/the pre-eminent listed share beneficiary.

this is clearly a major business and investment opportunity, and i'm not aware of a better play on it than nwt.

"Martyn’s Law: Safeguarding public spaces with comprehensive security

... Access Control in focus

As an industry innovator, Grosvenor Technology welcomes Martyn’s Law as a progressive step to enhance security in public spaces. The legislation highlights the importance of access control in mitigating the impact of terrorist attacks. Grosvenor highlights two critical focus areas for building security systems: maintaining premium quality security and providing comprehensive access management.

Grosvenor’s product range significantly emphasises uncompromised security, empowering building managers to address potential vulnerabilities proactively. Issues like card cloning are highlighted as potential risks, prompting a call to consider upgrading legacy systems with robust encryption-driven hardware and software.

Comprehensive access control emerges as an essential element, encompassing features such as lockdown functionality, anti-passback systems, personnel tracking, safe corridors, secure access for emergency services, and seamless integration with other security systems.

The JanusC4 system aligns with Martyn’s Law requirements, providing a robust solution for evolving security needs. Ongoing development focuses on refining and improving products, ensuring the company stays ahead in meeting the demands of a changing security landscape.

Supporting the introduction of Martyn’s Law

Martyn’s Law is about more than just products; it’s about protecting people, developing comprehensive security plans, robust processes, and thorough staff training. The company pledges dedicated support to its customers, recognising the importance of collaborative efforts to implement the law successfully.

After the Manchester Arena tragedy, Martyn’s Law emerges as a crucial initiative to fortify public spaces against potential threats. Through its subsidiaries, Safetell and Grosvenor Technology, Newmark Security stands ready to help organisations upgrade their security."

https://newmarksecurity.com/insights/martyns-law-safeguarding-public-spaces-with-comprehensive-security/

"Martyn’s Law: Safeguarding public spaces with comprehensive security

... Enhancing physical security

Safetell recognises the profound impact Martyn’s Law could have on over 650,000 UK businesses. As detailed, the bill suggests varying levels of responsibility based on venue capacity, potentially requiring mandatory physical updates. To navigate these changes effectively, companies should review existing plans, promote awareness, and keep informed about when the legislation will be formally passed into law.

Entrance Control is a central component of Safetell’s approach, encompassing security portals, speed gates, full-height turnstiles, tripod turnstiles, swing gates, rotating doors, and security pass doors. These products address the specific requirements outlined in Martyn’s Law, offering a range of security resistance levels and customisation options to cater to diverse business needs.

Safetell encourages businesses to conduct thorough security assessments, aligning them with Martyn’s Law requirements. Assessments should focus on potential risks and vulnerabilities and implement preventive measures. Companies can proactively address security gaps and create robust action plans by completing a comprehensive evaluation.

Proactive risk mitigation

Martyn’s Law, in its current draft, emphasises the importance of risk assessments for different tiers of businesses. Safetell advises organisations to adopt proactive risk mitigation strategies, such as installing mandatory physical updates like bollards, intruder detection technology, tactical CCTV, and secure entrances. These measures enhance security and align with potential future legal requirements.

Martyn’s Law also underscores the significance of collaborating with local authorities and law enforcement to ensure a cohesive and coordinated approach to security. Sharing insights, conducting joint drills, and staying abreast of evolving threats can enhance preparedness and response capabilities. ..."

https://newmarksecurity.com/insights/martyns-law-safeguarding-public-spaces-with-comprehensive-security/

New on NWT's website: a new article on Martyn's Law (Protect Duty legislation); which is the first one on this topic on NWT's own website, following on from previous ones on Safetell's & GT's websites last year:-

"Martyn’s Law: Safeguarding public spaces with comprehensive security"

https://newmarksecurity.com/insights/

"Insights

Martyn’s Law: Safeguarding public spaces with comprehensive security

Almost seven years after the event, the impact of the 2017 Manchester Arena bombing still weighs heavily. The event has prompted the UK to undergo significant legislative changes to enhance national security, improve intelligence-sharing mechanisms, and bolster counter-terrorism measures. The most recent development is Martyn’s Law, which was confirmed as coming into law in the King’s Speech in November 2023.

Martyn’s Law, also referred to as The Terrorism (Protection of Premises) Bill, is a response to the tragic events of the Manchester Arena bombing, and represents a crucial step forward in ensuring the safety and security of publicly accessible locations. Advocated by Figen Murray, the mother of Martyn Hett, who tragically lost his life in the bombing, this legislation aims to strengthen security measures in public spaces across the UK.

The introduction of Martyn’s Law is a commitment to preventing similar incidents in the future and underscores the need for businesses and venues to implement robust security protocols. Once passed into law, it will compel businesses to develop action plans and assess potential terror attack risks.

Currently, the government is seeking public views via a consultation to ensure the bill strikes the right balance between public protection and avoiding undue burdens on smaller premises. As it stands, businesses with a capacity of more than 100 people (standard tier) will be required to implement measures such as training and evaluation.

Venues with a capacity of more than 800, or those with over 250 employees, 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.

In response to the confirmation of Martyn’s Law, Newmark Security, with its subsidiaries Safetell and Grosvenor Technology, is taking a proactive stance to improve public safety and protection against terrorism. Our commitment extends beyond mere compliance, emphasising a dedication to fortifying security measures and contributing to the overall preparedness of public spaces. ..."

http://newmarksecurity.com/insights/martyns-law-safeguarding-public-spaces-with-comprehensive-security/

A new (c. three minutes) NWT video interview on Proactive Investors yesterday:-

"Newmark Security says momentum gained in its fiscal first half has continued into 2024

Published: 12:22 29 Jan 2024 GMT

Written by: Stephen Gunnion

Newmark Security PLC (AIM:NWT) CEO Marie-Claire Dwek takes Proactive's Stephen Gunnion through the company's first-half performance, which revealed strong underlying growth.

The company, which designs and manufactures physical security products, intelligent access control, timekeeping and identity management solutions, reported first-half revenues of £10.4 million and a gross profit of £3.9 million, marking an 11% increase after adjusting for the departure of UKG, a former client.

Notably, EBITDA soared to £5.8 million. The addition of three major clients in the first quarter contributed significantly to revenue. Additionally, Newmark Security has been actively expanding its service offerings, resulting in a notable increase in recurring revenue in HCM, totaling £2.3 million for the year.

Dwek expressed optimism about returning to profit after tax in the second quarter, anticipating a strong second half of the year bolstered by new clients and strategies. The company's focus on attracting more blue-chip customers across various sectors, including software houses in the US and major UK retailers, has been fruitful. Newmark Security's access control division has also seen success with blue-chip clients in the UK through distributors and dealers.

Looking ahead, the sales pipeline remains strong for the second half of the year. Newmark Security's strategic plan, which includes attaching services to hardware and introducing new products to existing partners, is proving successful."

https://www.proactiveinvestors.co.uk/companies/news/1039562/newmark-security-says-momentum-gained-in-its-fiscal-first-half-has-continued-into-2024-1039562.html

Thanks for that excellent work, Dab.

If anything, NWT is an even stronger buy now than it was at the start of last year, in the 30s: the strongest of strong buys, for what could be one of the all-time great growth stocks, still available for a comparative pittance.

In view of their property sector background, TMOR's new directors will probably be looking at a property RTO into TMOR, probably at a significant premium to their 1p/share investment price.

And recessionary times can provide great opportunities to pick up property cheaply, from which huge gains can subsequently be made.

A good example of a property sector multibagger is the property development company Northacre (NTA), which c. 75-bagged in c. 5 years, 2005-2010, low to high: from c. 2p to c. 150p.

"Northacre plc is a British property company that develops luxury apartments in London, and is 69% owned by Abu Dhabi Financial Group (ADFG)."

https://en.wikipedia.org/wiki/Northacre#:~:text=Northacre%20plc%20is%20a%20British,Dhabi%20Financial%20Group%20(ADFG).

Allenby Capital's Company Note on NWT is a 14-page document, featuring a current NWT price of 91p at the top.

Note that their research is intended for professionals and institutional investors, so lesser mortals should perhaps stop reading now!

Here are a few extracts:-

"Interims from Newmark Security plc, a leading provider of electronic and physical security systems, indicate further progress against its 2025 Growth Strategy of increasing the proportion of recurring revenue and services. Hardware-enabled software and services substantially increases Newmark’s addressable market, offers greater revenue visibility and margin accretion. At Grosvenor Technology (Human Capital Management and Access Control), annualised recurring revenue increased 77% in H1 to £2.3m meanwhile Safetell, the provider and maintainer of integrated doors solutions and physical security division, maintained its revenue growth (+24%) following its 2022 restructuring, product portfolio refresh and increased focus on services revenue. Newmark returned to profit in Q2 and this has continued in H2 and management anticipates FY revenue growth in both divisions. As higher gross margins and operational gearing come through, we would anticipate a rapid growth in profits."

"The loss of UKG had been anticipated for some time following the acquisition of Kronos Inc by Ultimate Software, a customer of Newmark’s GT clocks, in 2020, and subsequent renaming. Kronos was a multinational provider of workforce management and HCM software but also a major manufacturer of time clocks. The combination of two large HCM software companies but also one of the largest device manufacturers has created an opportunity for independents, such as Grosvenor, and it has secured three additional HCM software providers in H1. This has derisked the division but also created additional software and services revenue opportunities.

Within HCM, revenue in North America fell 20%, reflecting the UKG loss, to £3.9m but increased 42% in Rest of World to £2.1m, continuing the trend of FY23. Excluding the impact of UKG, underlying revenue growth for North America was 8%. Grosvenor has been successful in displacing competitor clock products through its entry level devices coupled with recurring revenue services and can also offer a higher level of cybersecurity with GT Connect achieving ISO 27001 certification."

"Management reports that the company returned to profit after tax in Q2 and this trend is continuing in H2. Overall, FY24 revenue is expected to grow in both Safetell and Grosvenor, despite the UKG loss, supported by a good spread of public and private sector contracts. As higher gross margin revenue streams grow, coupled with the effect of operational gearing, we would anticipate an acceleration in in profit growth. The current financing facilities are sufficient to execute its current plans."

https://www.allenbycapital.com/our-research/

26th Jan 2024 7:00 am RNS Holding(s) in Company

https://www.lse.co.uk/rns/ARA/holdings-in-company-aeelbva16jqow0q.html

So on 25th. January 2024, N. Fitzpatrick crossed the 4% holding threshold for ARA, having previously crossed the 3% threshold in July 2023.

This further shows that he's obviously a shrewd investor, not only identifying this outstanding & undervalued investment opportunity, but then also cannily accumulating on dips

I've noticed that some of the material on NWT's website has just been refreshed, and here's a snippet that is particularly worth noting:-

"Through our dedication to providing exceptional security supported by beneficial value-add services, we are strongly positioned for exponential – and profitable – growth."

https://newmarksecurity.com/about/

Exponential profitable growth: that's as bullish as I've seen from the company - people who aren't known for their hyperbole - and it does highlight just how confident they are of the outlook here.

This heading on the home page is also new:-

"The Innovators of Security"

https://newmarksecurity.com/

This is a noticeably greater emphasis on the company's cutting-edge innovation: innovation which helps to distinguish it, and make it so special.

And it certainly seems sensible to emphasise this.

"Ensuring Data Privacy in the Digital Age

... Building Trust With ISO27001

Data security goes beyond just technological realms; it necessitates the need for greater awareness and responsibility from everyone; those that hand out data, as well as those that collect, process and store it. And this is where standards like ISO27001 play a pivotal role.

ISO27001 is, essentially, a blueprint for data protection. It outlines best practices for everything from employee training and access controls to incident response protocols and risk management. By implementing this comprehensive framework, businesses can create robust defences against data breaches and cultivate a culture of data security.

But while more business embrace this standard, there is still a way to go. We should all accept responsibility for managing and protecting our digital lives, and Data Privacy Day serves as the perfect opportunity to remind us of that.

At Grosvenor Technology, we prioritise the security of data above all else, and we encourage you to do the same."

https://www.grosvenortechnology.com/insights/ensuring-data-privacy-in-the-digital-age/

"Data Privacy Day (known in Europe as Data Protection Day)[1] is an international event that occurs every year on 28 January.[2] The purpose of Data Privacy Day is to raise awareness and promote privacy and data protection best practices. It is currently observed in the United States, Canada, Qatar[3], Nigeria, Israel[4] and 47 European countries."

https://en.wikipedia.org/wiki/Data_Privacy_Day

Another excellent new article just added to Grosvenor Technology's website: and a very apposite one, just ahead of Data Privacy/Protection Day tomorrow:-

"Insights

Ensuring Data Privacy in the Digital Age

Data security goes beyond just technological realms; it necessitates the need for greater awareness and responsibility from everyone; those that hand out data, as well as those that collect, process and store it.

Paul Smith

Head of Quality & Compliance

The digital revolution has entirely transformed our lifestyles and landscapes; from the daily scrolling of social media to the loyalty cards that exchange data for deals, our information is captured and catalogued in an abundance of ways.

But this increase in data collection and processing goes hand-in-hand with the more sinister practice of data theft. A recent report by Cybersecurity Ventures estimates that a global cyberattack will occur every 11 seconds in 2023, highlighting the urgency of robust data protection measures.

While malicious actors undoubtedly pose a significant threat, a surprising statistic emerges: 22% of data breaches stem from human error. This underscores the critical role of employee awareness and training in safeguarding sensitive information.

Types of cybersecurity threats typically include:

Phishing

Is the practice of sending fraudulent emails that resemble emails from reputable sources. The aim is to steal sensitive data like credit card numbers and login information. It’s the most common type of cyber-attack.

Ransomware

Is a type of malicious software. It is designed to extort money by blocking access to files or the computer system until the ransom is paid. Paying the ransom does not guarantee that the files will be recovered or the system restored, however.

Malware

Is a type of software designed to gain unauthorised access or to cause damage to a computer. It can steal data, disrupt operations, and even cause permanent damage.

Social engineering

Is a tactic that adversaries use to trick you into revealing sensitive information. They can solicit a monetary payment or gain access to your confidential data. Social engineering can be combined with any of the threats listed above to make you more likely to click on links, download malware, or trust a malicious source. ..."

https://www.grosvenortechnology.com/insights/ensuring-data-privacy-in-the-digital-age/

"Newmark Security hails underlying growth, expects stronger second half

Published: 08:23 25 Jan 2024 GMT

Newmark Security PLC (AIM:NWT) reported first-half underlying revenue and gross profit growth and said it is on track for a stronger second half.

Revenues of £10.4 million were generated in the six months ended 31 October 2023, down 2% year on year, which mostly reflected the People & Data Management (P&DM) division, Grosvenor Technology, losing its partner UKG after its merger the previous year.

Underlying earnings (EBITDA) came to £0.8 million, compared to £1.1 million a year earlier, and a loss after tax of £0.1 million was reported versus £0.5 million pre-tax profit last time.

Grosvenor’s sales were down 9% to £7.6 million, but this was partly offset by strong growth in the Physical Security Solutions division, Safetell, where sales grew 24%.

If stripping out the UKG impact, underlying group revenue grew 11% and underlying gross profit increased by £0.2 million.

Newmark said the group returned to profit after tax in the second quarter of the financial year.

The strong trading trend is expected to continue into the second half of the financial year, with both electronic and physical security systems divisions to grow in the full year.

“The group's existing financing facilities are sufficient to execute its current plans and both divisions are anticipating stronger sales in the second half, supported by a good spread of public and private sector contracts,” the company said.

Chairman Maurice Dwek said it was a successful period for Newmark as both divisions continued to execute their strategies and build a better platform for growth, as shown by 77% growth in subscription-based recurring revenues for Grosvenor’s Human Capital Management arm and Safetell’s 100% sales growth of entrance control products.

Dwek also pointed to the number of blue-chip clients being won across public and private sectors, including a ‘big four’ supermarket, a major UK utility and multiple police forces.

“Our sales pipeline is expanding and we are on track for stronger second half, with both divisions set to deliver full year revenue growth,” he said.

"Whilst we are watchful of the macroeconomic outlook and pending elections, the people and data security market continues to grow and we are confident that the group is in a stronger position to capitalise on the opportunities this will bring.”"

https://www.proactiveinvestors.co.uk/companies/news/1039349/newmark-security-hails-underlying-growth-expects-stronger-second-half-1039349.html