Newmark Security PLC (AIM:NWT) has highlighted strong US demand for its electronic and physical security systems in a trading update ahead of today’s annual general meeting.
Demand for its Grosvenor GT4 and lower-cost GT4-Lite devices has been “particularly strong”, said Newmark, with orders for the Lite device “helping to displace its main low-cost clock competitor”.
GT Connect, the division's global platform, is now processing over 1.1 million punch transactions per month and has over 25,000 GT devices connected, Newmark added.
Newmark chair Maurice Dwek stated: “The group's pipeline of new business opportunities is expanding, and we are excited to have embarked on our new five-year growth plan.
“To support our objectives, we have made several strategic hires and advanced our new product development.”
The Safetell entrance-control division “has also made good progress in accordance with the five-year plan, winning a series of new automatic door service customers, including a national retailer and a housing trust”.
Safetell has also extended existing service contracts with two of its largest banking customers and a major petrol retailer.
Dwek noted that four projects scheduled for delivery in the first half of the 2025 financial year have been pushed back to the second half.
He stated: "As experienced last year, the later timings of new contracts and implementations will lead to a greater proportion of the group's revenue being recognised in the second half. At this current juncture, the board remains confident in the full-year outlook and achieving further growth."