Marie-Claire Dwek, CEO of Newmark Security PLC (AIM:NWT), delivered a positive update on the company's 2023 annual results at the Proactive One2One Investor Forum.
The company, dedicated to providing secure cloud control for people's access, identity, and timekeeping at work, saw group revenue increase by 6%, hitting £20.3 million. The firm's two market-facing brands, Grosvenor Technology (GT) and Safetell, were key drivers of this growth.
GT, their people and data business, particularly dominant in the US, experienced a 7% top-line revenue growth, reaching £15.6 million, largely driven by their Human Capital Management (HCM) business. HCM sales surged by 10%, totaling £12.6 million.
Safetell, Newmark's physical security brand, also witnessed growth with revenue rising modestly by 3% to £4.7 million. The brand's focus areas include auto doors, screens and counters, and building security.
Dwek celebrated 2023 as a pivotal year, marked by the firm's return to full-year profitability and the successful launch of their strategic cloud platform, GT Connect.
Looking ahead, Dwek expressed confidence in achieving their 2025 growth strategy, emphasizing the firm's increasing recurring revenues and preparation for a more robust 2024.