Source - SMW
Newmark Security has warned that it now expects to report a loss for the year ending 30 April. 

The company had said in its results for the FY16  that operating profit for the current financial year would be significantly lower.  

The outlook section said: "This reflected the fact that the strategy of material investment in new products, new customer acquisition and new geographies has taken longer to be realised than originally anticipated.  The opportunity pipeline continues to grow but the conversion in to sales has been slower than hoped."

The board today confirmed that these delays and other operational difficulties persist and despite implementing a number of cost cutting measures, the group now expects results for the current financial year to be materially below market forecasts and that it expects to report a loss for FY17.

Chief executive Marie-Claire Dwek said: "The results for the year to date have been very disappointing albeit in a period of investment and challenging markets.  We have and continue however, to initiate programmes to cut costs which will improve our financial position going forward, whilst continuing with the launch of new products which the board are optimistic will underpin future growth."  
 
  At 2:14pm: (LON:NWT) Newmark Security PLC share price was -0.65p at 1.58p



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