LONDON (ShareCast) - (Sharecast News) - Newmark Security said in an update on Thursday that it was on track to deliver strong first-half results, with higher sales and improved profitability, as it continued to expand its human capital management (HCM) technology and strengthen its North American business.
In a statement at the AIM-traded company's annual general meeting, chairman Maurice Dwek said Newmark had been "transformed in recent years with human capital management now at the forefront of our growth".

He highlighted growing adoption of the company's products by new users and displacement of competitors, supported by partnerships with major software houses in Europe and North America.

"Innovation remains a key pillar of our strategy," Dwek said, noting the launch of the company's new GT Tablet software application.

"The feedback from our partners has been excellent and we anticipate first orders soon."

He added that Newmark was well-positioned to accelerate its direct-to-end-user strategy in North America, supported by partnerships with SAP, Oracle, and Workday.

"Signing agreements with such names is a huge achievement and underlines the quality of our technology," he said.

"Our D2E order book is building and we have just recorded our first sale on SAP."

Dwek also said progress had been made at Safetell, the group's physical security division, which is undergoing a strategic review.

"We have achieved efficiency gains and reduced costs, with further operational initiatives planned," he said.

"With sales up and previously delayed contracts being fulfilled, the business is in a stronger position for the future."

The chairman added that Newmark was committed to shareholder engagement, and was seeking to appoint two new independent non-executive directors to ensure "an appropriate balance of independence and skills to deliver for all our stakeholders".

He concluded that the group "remains positive about the outlook for the rest of the year," with momentum expected to build in the traditionally stronger second half.

At 1453 BST, shares in Newmark Security were up 8.7% at 125p.

Reporting by Josh White for Sharecast.com.

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