Security products supplier Newmark Security says that it expects to meet expectations for the year to April 2010.
The trading of the asset protection and electronic security businesses has been strong in the second half. Edison forecasts an improvement in profit from £1.4m to £1.6m.
Newmark has acquired a 60% stake in ATM Protection (UK), which has developed a new technology to protect cash in-transit. An adhesive bonding technology coats the notes and makes them unusable. The technology has been developed with US security firm Loomis, which will trial the technology in the south of England. If it rolls out the technology then its orders could be worth £4m. .
At 1.8p a share, Newmark is valued at £8.11m. The shares are trading on six times prospective earnings for 2009-10. This falls to nearer five in 2010-11.
The full year figures will be announced in July.
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