Newmark Security PLC (LON:NWT) said its wholly-owned subsidiary Safetell Limited has received a formal contract extension for the supply of physical security equipment and preventative maintenance to the UK branch network of a leading worldwide supplier of retail banking services.
The AIM-listed firm said the contract consists of secured orders for the supply of service and maintenance support for ‘Fast Rising Screens’ totalling £1.2mln, along with the supply of new Fast Rising Screens and auxiliary physical security products which is expected to total not less than £300,000.
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The provider of electronic and physical security systems said this contract is a one-year extension to an original contract agreed in March 2012, then amended in October 2014, and covers the period from 1 November 2017 to 31 October 2018.
Marie-Claire Dwek, CEO of Newmark, said: “We have supplied this customer for the last 28 years and we are delighted that the quality of our product and service continues to be recognised.”
She added: “Safetell recently expanded its product and service proposition to capitalise upon the burgeoning counter-terror market and in response to the challenging market conditions as a result of branch closures that are occurring in the banking sector, yet it is reassuring to see continuing demand for our physical security products and associated service and maintenance support from this long-term customer.”
In early morning trading, Newmark’s shares jumped 12.5% higher to 0.9p.