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22 Oct 2024 07:00
22 October 2024
Newmark Security plc
("Newmark", the "Company" or the "Group")
AGM Statement
Newmark Security plc (AIM: NWT), a leading provider of electronic and physical security systems, is holding its Annual General Meeting ("AGM") today at 10:30 am (UK).
At the AGM, Maurice Dwek, Newmark Chairman, will make the following statement:
"Building on the success achieved last year, we are pleased to confirm that the good progress has continued in the current financial year ending 30 April 2025 ("FY25"). The Group's pipeline of new business opportunities is expanding, and we are excited to have embarked on our new five-year growth plan. To support our objectives, we have made several strategic hires and advanced our new product development.
"Approaching the end of the first half of FY25, Grosvenor's Human Capital Management ("HCM") division has achieved further growth, driven by a strong U.S. performance. Demand for Grosvenor's GT4 and lower-cost GT4-Lite devices have been particularly strong, with orders for the latter helping to displace its main low-cost clock competitor. GT Connect, the division's global platform, is now processing over 1.1 million punch transactions per month and has over 25,000 GT devices connected.
"Safetell has also made good progress in accordance with the five-year plan, winning a series of new automatic door service customers, including a national retailer and a housing trust. It has also extended existing service contracts with two of its largest banking customers and a major petrol retailer. Whilst it has completed the installation of physical security at a new major football stadium and the first stage of a substantial rollout of retail screens for national convenience retailer, four projects that were scheduled for H1 of FY25 are now set to be carried out in H2.
"As experienced last year, the later timings of new contracts and implementations will lead to a greater proportion of the Group's revenue being recognised in the second half. At this current juncture, the Board remains confident in the full year outlook and achieving further growth."
Newmark Security plc Marie-Claire Dwek, Chief Executive Officer Paul Campbell-White, Chief Financial Officer
| Tel: +44 (0) 20 7355 0070 www.newmarksecurity.com |
Allenby Capital Limited (Nominated Adviser and Broker) James Reeve / Liz Kirchner / Lauren Wright (Corporate Finance) Amrit Nahal, Tony Quirke (Sales & Corporate Broking)
| Tel: +44 (0) 20 3328 5656 |
About Newmark Security plc
Newmark is a leading provider of electronic, software and physical security systems that helps organisations protect human capital and provide safe spaces seamlessly and securely.
From our locations in the UK and US, we operate through subsidiary businesses positioned in specialist, high-growth markets.
We foster an open and inclusive work environment amongst our c.100 employees, serving hundreds of blue-chip customers.
Our product portfolio consists of Human Capital Management and Access Control Systems providing both hardware and software and Physical security installations to various sectors.
Newmark Security plc is admitted to trading on AIM (AIM:NWT).
For more information, please visit: www.newmarksecurity.com
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