Newmark Security plc (AIM: NWT), a leading provider of electronic and physical security systems, is pleased to announce its unaudited interim results for the six months ended 31 October 2018.
HIGHLIGHTS
Financials
- Revenue from continuing operations increased 19.5% to £9.8m (HY 2017: £8.2m)
- Operating profit from continuing operations of £0.5m (HY 2017: operating loss of £0.3m)
- Earnings per share from continuing operations of 0.09 pence (HY 2017: loss per share of 0.10 pence)
- Cash outflow from operating activities was £0.7m (HY 2017: 0.1m).
Electronic Division
- Revenue increased by 27.7% to £5.06m (HY 2017: £3.96m)
- Human capital management revenue increased by 53.0% to £3.0m (HY 2017: £2.0m)
- Access control revenue increased by 2.4% to £2.03m (HY 2017: £1.98m)
Asset Protection Division
- Revenue increased by 11.9% to £4.76m (HY 2017: £4.26m)
Commenting on the results, Maurice Dwek, Chairman of Newmark, said:
“The Board was pleased with the growth achieved in the first half of the year and the consequent return to profitability. The higher level of revenue within the electronic division is expected to continue in the second half of the year, although the revenue within the asset protection division is expected to be lower due to seasonality factors as in previous years and for the other reasons set out in my report in full.”
“In addition, Brian Beecraft has notified the Board of his intention to retire in October this year. Brian has been the Company’s Finance Director for 21 years and the Board would like to thank him for his contribution during that time.”
Copies of the interim results for the six months ended 31 October 2018 will shortly be sent to shareholders and will be available on the Company’s website www.newmarksecurity.com.
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