18th May 2016 17:06
LONDON (Alliance News) - Newmark Security PLC said Wednesday that it expects its profit after tax for its recently ended financial year to meet market expectations, as its performance in its second half broadly followed that of its first half.
The security systems provider expects to report profit after tax for the year to end-April of GBP1.2 million, on revenue of not less than GBP22.0 million, down from GBP22.9 million the previous year.
It expects to recommend a dividend, it said, and plans to release its full year results in August.
Newmark expects to "selectively invest" in technology over the coming year in order to create a robust pipeline for the future.
In its electronic security division, Grosvenor Technology Ltd, it is developing three major product developments, including a combined hardware and software access control range, a new workforce management terminal, and an upgrade to JANUS to its Sateon platforms.
Grosvenor has seen traction in the Middle East, recently signing the Abu Dhabi National Oil company as a client, as well as winning new clients elsewhere.
"These new offerings are part of our on-going drive to create an excellent product pipeline that will deliver for customers for years to come. As anticipated in January, our products are gaining traction in the Middle East and we are delighted to announce several new client wins in this expansive region where the market never stands still, and demands products that respond to new requirements as they arise," said Chief Executive Officer Marie-Claire Dwek in a statement.
Shares in Newmark Security closed up 1.6% at 2.87 pence Wednesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Newmark Security