Security products supplier Newmark Security reported an improvement in profits in the six months to October 2009.
Revenues were 5% higher at £6.99m and pre-tax profit move ahead from £786,000 to £883,000.
Both the electronics and asset protection divisions reported higher profits. The electronics division is investing in developing access control products. They will be due for release at the end of 2010.
Net debt was £902,000 at the end of October 2009. Working capital increases ate into the cash and there was £452,000 of capitalised research and development spending, against £197,000 in the first half of last year.
At 1.45p a share Newmark is valued at £6.53m. The shares are trading on five times earnings generated in the 12 months to October 2009.
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