As a result, revenue for the year will be around GBP17.7mln or 6% lower than a year earlier with the group expecting to post a marginal profit for the year.
Newmark added that sales were down 23% at the half-year point, which indicates the improvement in trading in the second half.
Grosvenor Technology saw year-on-year growth of 6% though the Access Control division was more impacted by Coronavirus (COVID-19) with site access restricted during the lockdown, although the second half of the year showed an improvement.
Safetell, the asset protection division, recovered well in the second half of the year resulting in a full year 7% reduction against last year compared to a 24% reduction reported at the half-year point and with a strong sales pipeline going into this year
Newmark added it is optimistic about future trading.
Grosvenor Technology is expected to benefit from the continued onboarding of Software Houses and the further rollout of its Software-as-a-Service (“SaaS”) and Clock-as-a-Service (“ClaaS”) subscription services.
A further focus is being placed on the transition from Legacy Access Control sales to Janus C4 while Safetell Newmark expects steady growth from a more considered and targeted approach to the market.