Newmark Security Revenue Down In Full Year But Profit Up Slightly

(Alliance News) – Newmark Security PLC on Wednesday said revenue declined in its most recently ended financial year, and it expects its results in the new year to be hurt by the coronavirus pandemic. The provider of electronic and physical security systems said revenue for the 12 months to the end of April was marginally behind last year at GBP18.8 million compared to GBP19.6 million, a decrease of 4%. Investment in development increased to GBP886,000 from GBP333,000 a year ago, resulting in pretax profit before exceptional items of GBP604,000, down from GBP638,000 a year ago.

Exceptional redundancy costs totalled GBP167,000 for the year, Newmark said, compared to GBP352,000 a year earlier. Pretax profit was GBP231,000 versus GBP214,000 in financial 2019. Newmark said the continued profitability for the company in its most recent financial year was helped by good growth in its sales in North America.

Going forward, Chair Maurice Dwek said: “Whilst the current year results will be adversely affected by Covid-19, I remain confident that there will be medium to long-term growth in both our divisions’ core markets.” The stock was trading 7.9% lower in London on Wednesday at 1.15 pence a share. By Evelina Grecenko; [email protected]

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