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From the website of Grosvenor Technology, NWT's Human Capital Management (HCM) and access control subsidiary, an excellent article by GT's MD:-

"Insights | Company News

Key security industry trends in 2023

As we have entered a new year, now is a good time to look at some of the trends that are shaping the security industry and consider what these might mean for incumbents.

Colin Leatherbarrow
Managing Director

The security industry today is very different from how it was just a few years ago, and it continues to redefine itself. Moving away from mere security considerations in isolation, factors such as technology, interoperability, artificial intelligence, sustainability, and more are shaping today’s industry.

As we have entered a new year, now is a good time to look at some of the trends that are shaping the security industry and consider what these might mean for incumbents.

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.

2. Cloud-based services will become more essential

The COVID-19 pandemic accelerated the move towards cloud-based security and monitoring. According to a recent report by Calipsa, 75% of businesses surveyed said that they are now using cloud-based video analytics for security purposes, an increase of 8% when compared with 2020.

Cloud technology enables organizations to become more agile in their approach to security, putting them in a better position to respond to emerging challenges and scale their approach with organizational growth. It’s also far more adaptable than legacy security solutions. For example, cloud-based identity management technology can be integrated with the latest developments in biometric access control in real-time to enable faster and more secure authentication. ..."

https://www.grosvenortechnology.com/insights/key-security-industry-trends-in-2023/

"Paycor & Grosvenor Technology: A Powerful Pair

" ... The Grosvenor Technology team is an amazing partner. The collaboration and communication as we worked on the development of our software was great. ..."

http://www.grosvenortechnology.com/insights/paycor-grosvenor-technology-a-powerful-pair/

For GT to be praised as an "amazing partner", by a multi billion pound cap. company, is quite an endorsement.

And their are plenty of other top testimonials from customers featured on GT's website too.

Here is a selection of these:-

• "Improves accuracy and cuts administrative time

We relied on Grosvenor Technology's hardware to help us deliver a solution that improves accuracy and cuts administrative time substantially every game day."

Tracy Inc
President

• "A solution that is pretty close to perfect

We strive for compliance; it is one of the base level requirements we provide for our customers. It has to be bulletproof and in partnership with the GT services team, using their GT Connect services, we think we have come up with a solution that is pretty close to perfect."

Insperity Time & Attendance
VP of Operations

• "We found the magic bullet

When we were evaluating time and attendance clocks to partner with out software, we literally believe we found the magic bullet in the Grosvenor Technology range of products."

Ban-Koe
Director

• "Saved cost and effort beyond what we had projected

We were very impressed with the Professional Services consultancy offered by Grosvenor Technology that ensured all parties received a solution that matched the specification required, and in the case of Credential Evaluation - even saved cost and effort beyond what we had projected."

Tata Steel Europe
Group Information Services

• "The entire installation was much more cost effective

It was clear that Grosvenor offered a platform that would provide additional functionality as the organisation grew, rather than starting over each time Misco required new features. The hardware was easy to deploy and the entire installation was much more cost effective and intuitive than what came before."

Sonic Security Services Ltd
Surveyor

• "Reduce running costs

The construction process had very tight deadlines, so it was important that the access control system could be installed in no time at all. Grosvenor was able to provide valuable support, ensuring staff were empowered to administrate, secure and reduce running costs before the first day of school."

SIBCA
Service Director

• "Makes employee enrolment a breeze

The new clocks are much easier to maintain, make employee enrolment a breeze, and decrease clock in/out time for quicker processing during shift change. The remote interface gives you the ability to access the clocks at any time and allows full control of the clock allowing diagnostics as well as virtual tutorial for employees that are off-site."

ERMCO ECI
VP of IT

https://www.grosvenortechnol

Britain's reputation for quality products is well-deserved, and Grosvenor Technology is shrewdly using this as one of its sales points.

Which looks to be serving GT well in its US expansion, where is is achieving some handsome success.

Or should I say some 'Hanson' success:-
"A company from here doing rather well over there."
http://news.bbc.co.uk/1/hi/business/3973543.stm

"Why Grosvenor

Assured Quality & Security

Our commitment to producing high-spec products matches our dedication to security, as reflected by our ISO 27001 certification.

British Manufacturer

Our products are developed here in the UK, so you can be assured of our commitment to quality.

Resilient Products

Designed to withstand high-footfall, always-on environments, you can rely on the longevity of our solutions.

Expertise Where It Counts

The vast experience of the team means that our products are proactively developed with security at the forefront.

Support When You Need It

From hands-on training to on-site tech support, with Grosvenor Technology your business is safe with us.

Part Of Your Team

Working alongside you means that we can adapt and tailor our products to suit your environment and industry. We know that by working together, we can create a secure tomorrow."

https://www.grosvenortechnology.com/

Paycor floated in America in July 2021, at an IPO price of US$23/share.

The tech share sector in America fell more than 30% last year, but the Paycor s.p. has held up well, and its current s.p. of US$26.2/share is above its IPO price.

"2 minute read July 21, 2021 7:38 PM GMT+1 Last Updated 2 years ago

Human capital firm Paycor pops in Nasdaq debut, valued at $4.8 bln

By Sohini Podder

July 21 (Reuters) - Shares of Paycor HCM Inc (PYCR.O) jumped 20% in their Nasdaq debut on Wednesday, giving a valuation of $4.8 billion for the human capital management firm that primarily caters to small and medium-sized businesses.

The stock opened at $28 per share, above the IPO price of $23. On a fully diluted basis, the company is valued at $4.87 billion at the opening price.

Paycor on Tuesday raised $425.5 million through the sale of 18.5 million shares in an initial public offering, where the stock was priced above an earlier targeted range of $18 to $21.

Founded in 1990, Paycor offers solutions for managing human resources, payroll, talent and workforce, targeting businesses with a headcount between 10 and 1,000. It had over 44,000 clients as of March 31 this year.

The majority of small and medium-sized businesses in the United States are underserved by legacy payroll providers, giving Paycor a unique opportunity in a big market, Chief Executive Officer Raul Villar Jr told Reuters.

The United States is seeing an uptick in job growth, as companies hired the most number of workers in 10 months in June, following a reopening made possible by COVID-19 vaccinations.

Paycor's revenue rose 4% year-on-year to $264.8 million for the nine months ended March 31, a regulatory filing showed. However, it incurred a net loss of $46.2 million in the same period.

UK private equity firm Apax Partners, which acquired Cincinnati, Ohio-based Paycor in 2018, will hold the majority of its outstanding common stock."

https://www.reuters.com/business/apax-backed-paycor-valued-48-bln-nasdaq-debut-shares-rise-2021-07-21/

Grosvenor Technology, NWT's Human Capital Management (HCM) and access control subsidiary, reported turnover of £14.559M. last year, and growing strongly; its H1 turnover this year is £8.415M., of which £4.875M. is North American.

In comparison, Paycor reported turnover of US$429.39M. last year, and has a current market cap. of US$4,607.43 billion, at US$26.20/share: i.e. a sales multiple valuation of 10.73, despite making significant losses:-
https://finance.yahoo.com/quote/PYCR?p=PYCR&.tsrc=fin-srch

This gives some indication of the hefty valuation that a Grosvenor Technology spin-out from NWT could potentially command in a US float.

That's why I'm predicting a BENIgN outcome to ZEN's Sèmè oilfield PSC negotiations, by or at the season of Easter.

And a corresponding resurrection in the ZEN s.p.

Let's see if I'm right.

Paycor is growing like gangbusters at the moment, which is clearly hugely positive for the continued strong growth of Grosvenor Technology in North America:-

"Paycor Announces Fourth Quarter and Fiscal Year 2022 Financial Results

August 23, 2022 at 4:15 PM EDT

• Q4 Total revenue of $111.0 million, an increase of 26% year-over-year, with expanding margins

• FY’22 Total revenue of $429.4 million, an increase of 22% year-over-year

• FY’23 revenue guidance of $510-$516 million, an increase of 20% year-over-year at the top end of the range

CINCINNATI, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (“HCM”) software, today announced financial results for the fourth quarter and full fiscal year 2022, which ended June 30, 2022.

“We completed our first year as a public company with accelerated revenue growth of 26% for the quarter and 22% for the year,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “Our strategy of designing technology for leaders, configuring by industry, and providing the most open HCM platform is driving revenue growth to the highest levels on recent record. I am incredibly proud of our associates’ exceptional execution against our strategic growth initiatives as we increased sales headcount by 23% and expanded PEPM by 8% this year. We are in great position to continue capturing market share as the multi-billion-dollar HCM market shifts to the cloud.”

“We are excited about the operational performance across the business, accelerating revenue growth above 20% while expanding margins and driving free cash flow during the fourth quarter,” stated Adam Ante, Chief Financial Officer of Paycor. “We continue to invest in our HCM platform and expand our go-to-market team to deliver strong, profitable growth.” ..."

https://investors.paycor.com/news-releases/news-release-details/paycor-announces-fourth-quarter-and-fiscal-year-2022-financial

"Paycor Announces First Quarter Fiscal Year 2023 Financial Results

November 2, 2022 at 4:15 PM EDT

• Q1 Total revenue of $118.3 million, an increase of 28% year-over-year, while delivering increased profitability

• Q1 Recurring revenue of $114.2 million, an increase of 24% year-over-year, driven by continued strong demand

• Raises FY’23 revenue guidance to $528-$534 million, an increase of 24% year-over-year at the top end of the range

... “ revenue growth of 28% year-over-year, driven by strong new client growth, cross-sales, and continued PEPM expansion,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “The combination of our effective go-to-market motion and on-going scale enabled us to expand adjusted operating income margins by over 500 basis points compared to last year. Demand remains strong for modern cloud solutions and our differentiated value proposition ...”"

https://investors.paycor.com/news-releases/news-release-details/paycor-announces-fourth-quarter

Paycor looks like another top partner for NWT to have:-

"HCM Solutions

Paycor Empowers Leaders to Build Winning Teams

Leaders drive engagement and engagement drives results. That's why Paycor builds HR software for the leaders and frontline managers everyone depends on."

https://www.paycor.com/

"Corporate Profile

Paycor’s human capital management (HCM) platform modernizes every aspect of people management, from recruiting, onboarding and payroll to career development and retention, but what really sets us apart is our focus on leaders. For more than 30 years we’ve been listening to and partnering with leaders, so we know what they need: a unified HR platform, easy integration with third party apps, powerful analytics, talent development tools, and configurable technology that supports specific industry needs. That’s why more than 29,000 customers trust Paycor to help them solve problems and achieve their goals."

https://investors.paycor.com/

"Paycor Headquarters + Locations

Paycor serves customers from sales offices and support centers throughout the country."

https://www.paycor.com/company/locations/

Mls,

You're being quite ridiculous.

The lengthy Tilapia delay isn't really down to negotiation time.

The Congolese have been 'sitting on it', for 'political reasons': although that appears to be now changing, so watch this space.

Benin is a completely different country ... though perhaps the concept of 'different countries' is too advanced for you to grasp?!

The three month timescale indicated by ZEN, from latter September, to select the preferred Benin bidder looked ambitious for Africa ... but it came pretty close to being met, and with ZEN as the winner, in the face of a fair bit of competition.

That was both a vindication of ZEN's operational and financing abilities, and of their ability to deliver on their expectations.

22nd Sep 2022 9:05 am RNS Offer for Sèmè Field in Benin
https://www.lse.co.uk/rns/ZEN/offer-for-s232m232-field-in-benin-9ipqkv85a2cynli.html

MarketGunslinger Posts: 669 Price: 0.975 No Opinion
RE: Investor Conference Call 28/09/2022
" ... Regionally, Benin is quite prompt in giving answers and Niger the neighbour has a policy that govt decisions on things like this should be made in 90 days. We are confident that this will be resolved swiftly to our satisfaction. ..."
https://www.lse.co.uk/ShareChat.asp?ShareTicker=ZEN&share=Zenith-Energy&page=38

10th Jan 2023 9:15 am RNS Exclusivity for Block 1, Sèmè Field in Benin
"Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the energy company with proven revenue generating production, exploration and development assets in Africa and Europe, is delighted to announce that the Ministry of Water and Mines of the Republic of Benin has awarded Zenith Energy an exclusivity (the "Exclusivity") for a period of three months to negotiate and finalise the terms of a Production Sharing Contract ("PSC") for Block 1 containing the Sèmè oilfield, offshore Benin ("Block-1"). ..."
https://www.lse.co.uk/rns/ZEN/exclusivity-for-block-1-s232m232-field-in-benin-copv9dcudq0024x.html

And now Benin isn't having to assess competing bids, it's all down to negotiations with just the one company, i.e. ZEN.

"Paycor & Grosvenor Technology: A Powerful Pair

... In addition to problem solving, GT Services allows us to provide one-off configurations for our clients. We have a UI that allows our clients to control what function keys are on their clock, punches, and transfers. But if someone needs a slightly different configuration to read a different badge, or they need us to strip the numbers off the front, we can go in using GT Services and modify their individual clock. With our other vendors, we don’t have that function. This really allowed us to diversify how we serve our clients so we can meet a more specific need.

The Grosvenor Technology team is an amazing partner. The collaboration and communication as we worked on the development of our software was great.

We chose Grosvenor Technology because the hardware was sound. We can rely on the quality and the way it interacts with our system. The team built something unique, based on our preferences. For example, the clocks were not originally supposed to connect through an IoT hub, but we felt that an IoT hub was the best way for our clocks to communicate and share data. The GT team brought that capability forward by almost an entire development year, to jump into IoT, and it definitely seems to work.”

If you are looking for a HCM partner, discover the ways in which we can support your business and its customers by getting in touch with a member of the GT team today."

https://www.grosvenortechnology.com/insights/paycor-grosvenor-technology-a-powerful-pair/

Another useful article from the website of Grosvenor Technology, NWT's Human Capital Management (HCM) and access control subsidiary:-

"Insights | Human Capital Management

Paycor & Grosvenor Technology: A Powerful Pair

Paycor’s Product Manager, David Goodwin, explains why they selected Grosvenor Technology as their hardware provider

Ben Lagden
Commercial Director

As a market leader in HCM software, Paycor needed a hardware partner that would match their quality and commitment to delivering an exceptional customer experience. Grosvenor Technology demonstrated that they could not only supply durable terminals but also offer a complete solution of GT Services and customised development that unifies Paycor’s seamless solution to its customers.

We asked Paycor Product Manager David Goodwin why they selected Grosvenor Technology as their hardware provider:

“GT Services has helped the most with their ability to link to our clients’ clocks remotely and diagnose any issues. We have clients all over the country, so we can’t always send someone out to look over a problem. Now, we can resolve any issues more efficiently and with less disruption to our clients.

Often there are times the HR team or administrators aren’t familiar with the technology, so when it comes to technical things like the configuration of a clock, we get them to connect it to their network, turn on Assist IT and we do the rest.

And when it comes to work orders, we’ve been able to solve the majority remotely by retrieving the logs and diagnostics, and reviewing the settings on the clock. Our clients love the fact that they don’t have to sit around and wait for an on-site visit to fix a problem. They can get on with their day while we figure it out without them having to touch it.

With the support, if there’s a bug or issue that we [Paycor] can’t resolve ourselves, the GT team can jump in and look at the clock to provide a diagnosis.

One of the best things to come from GT’s support is the quick reaction to bugs we’ve identified in the software. For example, we had an issue with our GT4. The clocks would just crash and lose connection to our IoT hub. The team identified it and passed it on to the development team. The development team found the code causing it, fixed it and released a new version.

We’ve also found it helpful that the GT team is willing to get on the phone with our clients if necessary. We have even shipped badges to the UK to have people figure out their bitstreams – it allows us to utilise them more as a partner versus a vendor. ..."

https://www.grosvenortechnology.com/insights/paycor-grosvenor-technology-a-powerful-pair/

The s.p. of MATD (Petro Matad) trebled from late November to early January, on only minor news.

A ZEN Production Sharing Contract (PSC) for the Benin project would be far bigger, and I believe it has a high degree of certainty, although that's not being reflected in the s.p.

ZEN have 3 months to negotiate a PSC for the Benin project from 10th. January, so we can expect it to be finalised by Easter, which is not long away.

Sèmè oilfield Benin operating licence:-
A production sharing contract being negotiated that could give ZEN a revenue share of USS100M.+ p.a., at great profit margins.

ZEN looks far safer and better value to me that MATD, and indeed is by far the best O&G sector opportunity that I'm aware of.

The fact that ZEN broke through to pre-tax profit at its last interim results distinguishes it, and indeed many of its peers do not even generate any O&G revenue.

"Programme for Monday 6th February 2023, 5pm – 9pm
5.00 pm Stephen English: Twinkle, Twinkle, small cap stars
5.40 pm Company presentation by Newmark Security ..."
http://melloevents.com/mm-6th-february/

NWT's presentation on Monday will now immediately follow the keynote address from Stephen English, which looks a perfect preface to highlight two more general NWT attractions:-

1. NWT being a play on the expected small-cap out-performance compared to large caps over the coming decade.

2. NWT being a little-known share that was bypassed by the 'everything bubble', retaining its 'deep value'.

Perhaps this was why NWT's presentation was moved up the running order, to be the first company presentation, ahead of IPX and I3E rather than after them.

Those are good suggestions Dab.

Another point is that NWT's subsidiaries' websites don't seem to be linked to from NWT's website, or even mentioned on it:-

GT website:-
https://www.grosvenortechnology.com/

GT's 'US website':-
https://gtclocks.com/

Safetell:-
https://www.safetell.co.uk/

Or vice versa.

So that's three NWT investor presentations this month lined up:-

1. Monday 6th. February 2023: MelloMonday:-
"5.40 pm Company presentation by Newmark Security"
http://melloevents.com/mm-6th-february/

2. Wednesday 8th. February 2023: Investor Meet Company platform:-
https://www.investormeetcompany.com/newmark-security-plc/register-investor

3. Tuesday 28th. February 2023: Proactive One2One Investor Forum:-
https://www.proactiveinvestors.co.uk/register/event_details/419#

As well as the separate AGM earlier on 28th. February.

NWT's board need to be commended upon their efforts, and the timing could hardly be better.

With about two thousand companies listed on the London Stock Exchange, it's easy to get overlooked - especially for smaller companies.

So this looks like the perfect coming together of an overlooked 'story', with investors searching for something special.

In a world where safety and security is ever-more important, NWT looks like a quite compelling growth opportunity - and with great downside protection too.

I feel blessed to have discovered this quite unique opportunity.

NWT seem to be VERY confident of the future, and with good justification, but are also delivering NOW, which is the ideal combination.

It's taken years of hefty investment into R&D to get them into this admirable position, which has now helped to give them a significant competitive edge which would be hard to match.

NWT has clearly been transformed, and they needed to be applauded for their strategic vision and insight.

The next step, as you have said Dab, will be to further promote market awareness of this hugely impressive metamorphosis, and the investor presentations this month (on 6th. February and 28th. February) should be a good start.

23rd Jan 2023 7:00 am RNS Final Results

" ... Maurice Dwek, Chairman of Newmark, commented: "Despite the macro challenges of the year, Newmark continued to grow and deliver against its strategic priorities. Our business model is now more resilient as our product initiatives have been carefully designed to increase recurring income, whilst leveraging our positioning to capture the industry's dynamic growth.

"Through our new solutions, customers will gain the capability to enable and connect a broad range of internet-enabled devices securely in the cloud with unified software control - creating a trusted ecosystem in the workplace.

"Our innovative complete product offering, combined with our strategic initiatives for global expansion, enhanced partnerships and efficient management of our key resources will transform our business and enable sustainable growth." ...

Chief Executive Officer's Review

... In an increasingly risk-aware enterprise environment, we have been working hard to broaden our reach and reputation as a trusted security partner, becoming a go-to brand for customers who are seeking this control to simplify the growing complexity of security and compliance requirements in the intersection between physical and digital worlds.

Our strategic focus and approach are opening a substantial market opportunity in which we now occupy a commanding position with key strategic partners. Our aim is to scale this model across an expanded partnership channel, matching this drive with speed of execution to secure greater market share. Converting our hard-earned competitive advantage will take time and we will continue to invest in people and infrastructure to drive business growth as we pursue an ambitious and achievable 2025 market strategy with a strong will to win.

Marie-Claire Dwek Chief Executive Officer

23 January 2023 ..."

https://www.lse.co.uk/rns/NWT/final-results-fjybevmguogyzsg.html

SaaS (software as a service) revenues tend to be very highly valued, especially when combined with other positive traits, as set out in the article below.

"SaaS Valuation: How to Value a SaaS Company in 2023

By SaaS Academy ...

The Valuation Formula: How is SaaS valuation calculated? ...

The metrics involved are:
• ARR (business size)
• Growth rate (momentum)
• Net revenue retention (product quality)
• Gross margin (profitability)

The formula is:

Valuation = ARR x Growth Rate x NRR x 10.

Once you have this number, you adjust it based on the gross margin.

Let's use an example to make it easy to understand.

A SaaS business has an ARR of $7m. Their growth rate is a steady 55%, with an excellent NRR of 115%. Plugging that into the valuation formula gets us:

Valuation = (7 x 55 x 115 x 10). This implies a valuation of $44m or x6.3.

But remember, we need to adjust for gross margin. We can calculate gross margin as (Revenue minus Cost of Goods Sold) / Revenue.

So, if revenues were $7m and costs were $1, we have (7 - 1) / 7 = A gross margin of 86%.

This figure is above the average SaaS growth margin of 75%, which means we can increase our valuation multiplier.

Of course, we should remember this formula is very straightforward. More reliable SaaS valuations will need to account for several other metrics. ..."

https://www.saasacademy.com/blog/saas-company-valuation-metrics

"Proactive events
IN PERSON EVENT - Proactive One2One Investor Forum
28 February 2023 | London
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair"

"Hearing the inside story and understanding the team behind the performance is crucial to making informed decisions. Join us at our next Proactive event to see leading growth companies make their pitch"

"Leading companies pitching

Getech Group PLC
Getech provides expertise, support and knowledge that companies and governments need to better locate, develop and manage energy assets and natural resources. The company's data-rich products, earth science expertise, geospatial solutions and ...

Newmark Security PLC ...

Crossword Cybersecurity PLC ..."

https://www.proactiveinvestors.co.uk/register/event_details/419#

"Proactive events
IN PERSON EVENT - Proactive One2One Investor Forum
28 February 2023 | London
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair"

"Hearing the inside story and understanding the team behind the performance is crucial to making informed decisions. Join us at our next Proactive event to see leading growth companies make their pitch"

"Leading companies pitching

Getech Group PLC ...

Newmark Security PLC ...

Crossword Cybersecurity PLC
Crossword Cybersecurity PLC focuses on the development and commercialisation of university research-based cyber security and risk management related software and cyber security consulting. The group's specialist cyber security product ..."

https://www.proactiveinvestors.co.uk/register/event_details/419#

Thanks Dab.

At the Proactive One2One Investor Forum on 28th. February, NWT will be presenting immediately before another security company , i.e. Crossword Cybersecurity (CCS), which should help to highlight NWT's massive undervaluation for the tech security sector:-
https://www.proactiveinvestors.co.uk/register/event_details/419#

For example, compare the similar ARR (annual recurring revenue) of the two companies:-

CCS, £2.4M. ARR:-

16th Jan 2023 12:00 pm RNS Post Close Trading Update
" ... for the year ended 31 December 2022 ...
2022 closing ARR was GBP2.4m, which is growth of 81% over the previous year. ..."
https://www.lse.co.uk/rns/CCS/post-close-trading-update-53955h7wjel8i3b.html

NWT's HCM ARR is now an annualised £2.6M.:-

31st Jan 2023 7:00 am RNS Half-year Report
" ... We have seen substantial progress in our HCM hardware-enabled SaaS strategy with HCM annual recurring revenue increasing by 260% year-on-year to GBP1.3 million in April 2022 driven by SaaS and ClaaS (clocks as a service). ..."
https://www.lse.co.uk/rns/NWT/half-year-report-22phs4l5im1fv8m.html

And then contrast their respective market caps.:-
CCS: £14.32M., at 15.5p.
NWT: £4.12M., at 44p.

NWT's total revenue is also multiples of that of CCS, and NWT is profitable whereas CCS is heavily loss-making.