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 2020 ("HY 2020").
· Revenue decreased by 23% to £7.9m (HY 2019: £10.1m)
· Operating loss of £0.2m (HY 2019: profit of £0.7m)
· Loss before tax of £0.3m (HY 2019: profit of £0.6m)
· Loss per share of 0.05 pence (HY 2019: earnings of 0.23 pence)
· Cash inflow from operating activities was £0.4m (HY 2019: outflow of £0.1m)
People and Data Management division
· Revenue decreased by 22% to £5.56m (HY 2019: £7.11m)
· Human capital management revenue decreased by 15% to £4.1m (HY 2019: £4.9m)
· Access control revenue decreased by 37% to £1.4m (HY 2019: £2.26m)
Physical Security Solutions division
· Revenue decreased by 24% to £2.30m (HY 2019: £3.03m)
Commenting on the results, Maurice Dwek, Chairman of Newmark, said:
"Whilst inevitably impacted by the global pandemic and associated restrictions in the UK and internationally, the Group has performed better than we originally anticipated, which has enabled investment activities to continue with only slight delays experienced. We have entered the second half of the financial year with far more optimism than at the start of the year which is also helped by the UK securing a Brexit deal. For the full year, the Board expects the Group to show a reduction in revenue compared to last year although this reduction is expected to be materially less than what we experienced in the first half of the year. On behalf of the Board, I would like to extend my thanks for all the hard work and resilience shown from the team throughout this period."
Copies of the interim results for the six months ended 31 October 2020 will shortly be sent to shareholders and will be available on the Company's website www.newmarksecurity.com.