Anyone any thoughts on Newmark Security?

Recent interim much improved, with reasonable figures expected at FY.

PROFILE

Newmark Security Plc, formerly Newmark Technology Group, was established in 1986 and listed on the AIM in 1997.

The Group is an integrated security provider. Through subsidiaries and global partners, Newmark offer clients a customised solution for a range of security requirements.

The Company operates via three divisions: The Asset Protection Division specialises in physical security equipment for the protection of staff at transaction counters, including pay boxes, glass security screens, doors and safes. The Secure Locking Division supplies sophisticated electronic and electromechanical locking systems to a wide variety of high security applications including prisons, hospitals, museums and government offices; and the Electronic Division provides integrated security management systems designed to control the access of personnel and track asset movements.

The aim of the Group is to build upon its solid foundations and to grow both organically and by acquisition.

**************************************

NEWS

LONDON (AFX) - Newmark Security PLC reported interim pretax loss before exceptionals and goodwill narrowing to 278,000 stg from 675,000 stg the previous first half, on higher sales of 5.7 mln stg, compared with 3.7 mln.

The results for the period include Grosvenor Technology Ltd for the six months whilst the comparative figures include only a month and a half for the period since acquisition.

Loss per share in the period to Oct 31 2003 narrowed to 0.1 pence from 0.4p a year earlier.

In its Asset Protection Division, Safetell achieved 44 pct sales growth compared to the same period last year and 4 pct ahead of plan.

Order intake in the Secure Locking Division has been slower than anticipated; the group said it is close to agreeing significant purchase commitments with some new customers "but these are unlikely to have any meaningful impact until the new financial year".

In its Electronic Division, Grosvenor has been trading broadly in line with expectations since acquisition. The integration of Grosvenor and Newmark Technology is complete.

Newmark also said it plans to cancel the existing deferred shares and share premium account, and subsequently allow reserves to be available which will permit the possible payment of dividends in future years.

***************************************

Note, the intention to cancel existing deferred shares and share premium account announced today, which possibly accounts for the small mark down in the price, (although you would have thought that should have been taken into consideration when the interim was announced!!)

Grateful for any thoughts,

PTH