What it does
Newmark Security PLC (LON:NWT) has two arms: Grosvenor, which specialises in clocking-in equipment and door access and security systems, and Safetell, which makes asset protection equipment such as screens for banks and now shops.
How it is doing
In August Newmark secured two new customer wins in its Human Capital Management division. The first contract is for three years and has a minimum contract value of US$1mln in that period. The other contract win is with an existing customer to provide the company's flagship device, the GT-10, to one of the largest retailers in the US. Newmark estimates it could potentially worth US$3.8mln over the next 2-3 years.
The pandemic has boosted demand for hygiene screens and night pay hatches, with activity in the second half of the year broadly in line with management's expectations, though it started to slow from April onwards.
As a result, revenues for the year will be slightly below the previous twelve months though the impact on group operating profit is not yet clear.
What the boss says: Marie-Claire Dwek, chief executive
“We are delighted to see our investment into creating our next-generation timeclocks being repaid with these customer wins. The US has been a significant part of our growth story in recent years and we expect that trend to continue."