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10:25GMT 17Dec2008-Newmark Security slips after results

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Shares in Newmark Security slip 9.5 percent after the security systems company posts a 28 percent fall in first-half group operating profit, and a 12 percent drop in revenue for continuing businesses.

Seymour Pierce says the results were a "touch" lower than it had expected, leading it to reduce its full-year 2009 pretax profit estimate to 1.75 million pounds from 2.1 million pounds, and adjusted earnings per share (EPS) to 0.29 pence from 0.35 pence.

"However, the shortfall was against a particularly strong prior period and there is still plenty of interest in the company's wide portfolio of security related products," says the broker in a note.

"The company occupies strong market positions in the areas of electronic access control and retail asset protection, both of which are growing markets," Seymour Pierce says, reiterating its "buy" recommendation.

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