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Proactiveinvestors United Kingdom Westminster Group http://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Westminster Group RSS feed en Thu, 24 May 2012 14:23:53 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Westminster Group opens new training academy in UK ]]> http://www.proactiveinvestors.co.uk/companies/news/42889/westminster-group-opens-new-training-academy-in-uk-42889.html  

Westminster Group (LON:WSG) said the new academy opened in central England by its subsidiary Longmoor offers ‘tremendous potential’ for the expansion of its training services.

Longmoor, which is the close protection (CP) and risk assessment division of Westminster, has opened the academy in response to the increasing demand for its CP courses.

The new academy will enable it to further expand the range and scope of its courses, both residential and non-residential.

“I am delighted to be announcing the opening of the Longmoor Training Academy which we believe is the best training facility of its type in the country and offers tremendous potential for the expansion of Longmoor's training services,” said chief executive of Westminster Peter Fowler.

“The market in personal protection has grown significantly with the much publicised increase in kidnap, hostage taking, ransom demand and targeted theft of wealthy and high profile individuals.”

The group added that the Longmoor Security Industry Authority (SIA) accredited course provides enhanced career options to military and police veterans as they cannot work within the UK private security industry without such accreditation.

In addition, Westminster is receiving enquiries for its courses from its governmental clients.

According to the group, the unrestricted access to the facilities will result in significant operational efficiencies with a wider range of courses offered at better potential profit margins.

The academy has been secured on a leasehold basis of an initial 12 month term with the option to extend for a further four years.

 

]]> Wed, 16 May 2012 10:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/42889/westminster-group-opens-new-training-academy-in-uk-42889.html <![CDATA[RNS press release - Opening of Longmoor Training Academy ]]> http://www.proactiveinvestors.co.uk/companies/rns/120516wsg4187d/ Wed, 16 May 2012 07:01:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120516wsg4187d/ <![CDATA[News - Westminster Group shares rise 50 pct following string of good news ]]> http://www.proactiveinvestors.co.uk/companies/news/42206/westminster-group-shares-rise-50-pct-following-string-of-good-news--42206.html Shares in Westminster Group have had a good run since the beginning of last week, as several updates from the Banbury-based security firm have been warmly received by investors.

]]> Tue, 01 May 2012 12:40:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/42206/westminster-group-shares-rise-50-pct-following-string-of-good-news--42206.html <![CDATA[News - Westminster Group enters 10-year franchise agreement in Nigeria ]]> http://www.proactiveinvestors.co.uk/companies/news/42187/westminster-group-enters-10-year-franchise-agreement-in-nigeria-42187.html Security firm Westminster Group (LON:WSG) has entered into a 10 year franchise agreement with investors in Nigeria, worth a minimum of £1.7 million in fees over the term of the agreement. 

Westminster Security Solutions Nigeria Ltd (WSSN) will be led by a Westminster-appointed manager and will operate as the company’s exclusive agent in Nigeria promoting all Westminster products and solutions.

Chief executive Peter Fowler said: "Nigeria is a key target market for our group services. It is one of the fastest growing economies in the world and Africa's most populous nation. We are currently looking at a number of sizeable project opportunities from the region and are receiving high levels of enquiries for our services from both the public and private sectors.”

The company is seeing substantial opportunities for its products and services in the oil & gas markets as well as other commercial sectors.

WSSN will open offices in several key cities and states in the near future with all the technical and administrative support services required, creating a strong presence throughout the country. This infrastructure will be funded by the franchisee.

"To be successful in many local markets we need to have a strong partner and a strong local presence.  We are very optimistic about the future prospects for this operating structure and it is a model we are looking at replicating in other regions," Fowler added.

Last month, the Nigerian president signed off on the 2012 budget which has earmarked a US$5.8 billion equivalent on security spending – and Westminster is well placed to benefit from that.

On top of the franchise fees of over 1.7 million over the term, all business the franchise undertakes will be done using Westminster’s products and solutions, so will be generating potentially huge revenues for the group.

Only yesterday, Westminster announced a strategic investment to the tune of £500,000 from a new partner which is now looking to assist with the delivery of many of the group’s opportunities in West Africa.

It had also reported that initial revenue forecasts for its US$150 million+ airport security contract with an African country announced in February may have been too conservative, and the deal has the potential to generate substantially more revenue than anticipated.

Initial revenue forecasts for this contract were based on modest growth of passenger numbers and did not allow for additional revenues from cargo scanning and other services. In the light of new forecasts and planned extensions of airport services in this country, the initial forecasts look too conservative, according to Westminster.

Following the two month pre-implementation period, the group has commenced operations at the airport today.  It has started to deploy new surveillance equipment, new procedures, new signage, and it launched a new ‘dog squad’ with explosives and drug detection dogs in operation within the airport.

The group's principal activity is the design, supply and ongoing support of advanced technology security solutions, risk assessments and close protection services.  It serves the security, defence, fire protection and safety markets worldwide.

Services can range from product only assignments, such as the supply of specialised scanners, to the design and implementation of an integrated system solution such as a border detection and surveillance system. The majority of Westminster’s customer base, by value, comprises governments and government agencies, non-governmental organisations and blue chip commercial organisations.

]]> Tue, 01 May 2012 07:51:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/42187/westminster-group-enters-10-year-franchise-agreement-in-nigeria-42187.html <![CDATA[RNS press release - ?1.7m Franchise Agreement in Africa ]]> http://www.proactiveinvestors.co.uk/companies/rns/120501wsg4232c/ Tue, 01 May 2012 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120501wsg4232c/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/120430wsg4107c/ Mon, 30 Apr 2012 17:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120430wsg4107c/ <![CDATA[News - Westminster Group secures £500,000 strategic investment, shares soar ]]> http://www.proactiveinvestors.co.uk/companies/news/42101/westminster-group-secures-500000-strategic-investment-shares-soar-42101.html Security firm Westminster Group (LON:WSG) has received a strategic investment to the tune of £500,000 and has issued 2.94 million shares at 17 pence each to the new partner which is now looking to assist with the delivery of many of Westminster’s opportunities in West Africa.

It had previously announced that it was in discussions with potential strategic investors as part of its growth plans.

“The directors believe that this strategy is a means of accelerating growth as these investors can bring added value to our operations as well as investment into the company,” Westminster said in a statement.

The news boosted the stock in early trade. At 8.40 am, Westminster was up 18.5 per cent at 20.75 pence.

The money from the placing will be used to fund major contract wins and for additional working capital purposes.

Westminster also announced that its US$150 million+ airport security contract announced in February looks set to go live on May 1 this year. In addition, initial revenue forecasts may have been too conservative, and the deal has the potential to generate substantially more revenue than anticipated.

The group has made significant progress in the last 12 months. 

It had a record year of order intake in 2011, resulting in revenues of approximately £10 million for that year, representing growth of more than 260 per cent compared to 2010.

As a result of this, the company was profitable at an operational level in the second half of that year as orders were delivered. Over the past year, the group has secured three major multi-million pound contracts, each one larger than the previous one.

This culminated in February 2012 when Westminster signed a contract with a West African country for the provision of complete airport security services over a period up to 15 years with a potential sales value in excess of US$150 million. 

Initial financing for this contract has come from existing working capital resources, and the implementation phase began on March 1.

During March and April, Westminster deployed a team in-country and has been actively investing in building its infrastructure and in-country operations in preparation for commencement of live operations and therefore revenue generation on May 1 2012.

The initial revenue forecast contract was calculated and based on only 100,000 passengers during 2011, with modest passenger growth over the term of the contract, and did not allow for revenues from cargo scanning, additional services or fare increases throughout the entire contract period, all of which could be significant. 

Westminster has the contractual right to make such charges, as well as to provide services at all airports in the country.

Recent data indicates that passenger numbers are now expected to be ahead of forecast and forward growth rates may be significantly ahead of previous estimates as the country of operations is forecast to have one of the fastest GDP growth rates in the world, and has discovered large natural resource deposits including oil and iron ore.

A new and enlarged terminal capable of accommodating up to 900,000 passengers per year is due to open later in 2012.

“Given all of the above, our initial aggregate US$150 million revenue forecast could be achieved by the contract's 8 year break point rather than the full contract term of 15 years.  Should that be the case, the revenue potential for the full contract term would be substantial,” the company said.

Westminster confirmed that previously flagged discussions with other airports for the provision of security services are still ongoing.

]]> Mon, 30 Apr 2012 08:40:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/42101/westminster-group-secures-500000-strategic-investment-shares-soar-42101.html <![CDATA[RNS press release - ?0.5m Strategic Investment & Contract Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/120430wsg2834c/ Mon, 30 Apr 2012 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120430wsg2834c/ <![CDATA[News - Westminster Group shares advance on latest airport security contract ]]> http://www.proactiveinvestors.co.uk/companies/news/41928/westminster-group-shares-advance-on-latest-airport-security-contract-41928.html Today's deal is another sign that Westminster’s newly established aviation security division is beginning to take off.

]]> Wed, 25 Apr 2012 12:39:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/41928/westminster-group-shares-advance-on-latest-airport-security-contract-41928.html <![CDATA[News - Westminster Group wins Saudi Arabia airport scanner contract ]]> http://www.proactiveinvestors.co.uk/companies/news/41908/westminster-group-wins-saudi-arabia-airport-scanner-contract-41908.html Security firm Westminster Group (LON:WSG) has won a new contract with Saudi Arabia for airport security equipment.

The deal is worth US$128,000 and it is expected to be completed in the second half of this year.

"I am delighted to be able to announce this latest airport security contract following on from other recent aviation contract wins and an expansion of our aviation business,” said chief executive Peter Fowler.

“This is yet another new governmental client to Westminster and could lead to further contract awards following successful implementation." 

Westminster told investors that the equipment being sold screens both people and baggage, however it said that any further information about the deal is restricted because of the classified nature of the project.

This is latest in a series of contract wins for the Banbury headquartered firm. In the past few months it has won deals for Airport security services in Africa, countermeasure systems in the Gulf and a variety of products to a government in sub-Saharan Africa.

Prior to that, in January’s results statement Westminster reported record order intake for the 12 months to December 31 2011 was around £14.7 million, up from just £2 million in the year before. And it entered 2012 with a contracted order book of £4.7 million 

Revenues for the year were around £10 million compared to £3.8 million in 2010, reflecting the much improved performance in the second half where revenues were more than £8mln, the trading update showed.

The group also achieved a significant underlying operating profit in the second half of the year, which compared favourably to the same period last year. As at year-end, it held £0.4mln in cash compared to £0.3 million in 2010.

 

]]> Wed, 25 Apr 2012 07:56:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/41908/westminster-group-wins-saudi-arabia-airport-scanner-contract-41908.html <![CDATA[RNS press release - Saudi Arabian Airport Security Scanning Contract ]]> http://www.proactiveinvestors.co.uk/companies/rns/120425wsg9837b/ Wed, 25 Apr 2012 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120425wsg9837b/ <![CDATA[Broker press ]]> Fri, 20 Apr 2012 00:00:00 +0100 <![CDATA[RNS press release - Holding in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/120319wsg5951z/ Mon, 19 Mar 2012 10:31:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120319wsg5951z/ <![CDATA[News - Westminster Group teams up with mobile technology specialist ROK Global ]]> http://www.proactiveinvestors.co.uk/companies/news/39820/westminster-group-teams-up-with-mobile-technology-specialist-rok-global-39820.html

Westminster Group (LON:WSG) expects the tie up with mobile and web technology group ROK Global to be of a “great benefit” to the company .

The AIM quoted security group told the markets this morning that it has entered a memorandum of understanding with ROK to market its suite of mobile phone-based police, security and executive services via its distribution network.

Under the terms of the deal, ROK will market Westminster’s monitoring services to their own clients.

The combination of one of ROK’s products, the mobile phone based Homeland Security (RHS) service, and Westminster’s monitoring services will enable clients to instantly transmit critical information in real time for prompt response, the companies said.

RHS helps law enforcement officers gather and manage information in a variety of formats including encrypted data. The device has been specifically designed for use in counter-terrorism operations, investigations, counter-narcotic operations and physical security, noted Westminster.

“ROK has developed a fantastically effective range of safety, security and policing products which we believe will be of enormous benefit to many of our existing clients and when combined with our 24/7 monitoring centre services will create a powerful security solution,” said chief executive of Westminster Peter Fowler.

ROK Global PLC was co-founded by US Billionaire John Paul DeJoria and UK-based serial technology-specialist entrepreneur, Jonathan Kendrick.

Westminster said its new partner has “pioneered many new and innovative technologies in the rapidly-evolving mobile and web space”.

Shares in Westminster traded at 22.75 pence this morning, up one percent from Monday’s close. The group currently has a market cap of £6.75 million.

]]> Tue, 06 Mar 2012 08:53:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/39820/westminster-group-teams-up-with-mobile-technology-specialist-rok-global-39820.html <![CDATA[RNS press release - Mobile Phone Based Security Services Agreement ]]> http://www.proactiveinvestors.co.uk/companies/rns/120306wsg7232y/ Tue, 06 Mar 2012 08:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120306wsg7232y/ <![CDATA[News - Westminster Group hires former RAF squadron leader as country manager in West Africa ]]> http://www.proactiveinvestors.co.uk/companies/news/39669/westminster-group-hires-former-raf-squadron-leader-as-country-manager-in-west-africa--39669.html An ex RAF airport security expert has joined specialist security group Westminster (LON:WSG), the company told investors today.

Squadron Leader Ben Gwillim has been appointed as country manager of Westminster Aviation Security Services in West Africa, it said.

Gwillim has a wealth of experience and served in the RAF for more than 20 years. Much of that time was spent working on security and investigation within the RAF police.

He was also the RAF's senior investigative officer and has served in Westminster's areas of operations both in the Middle East and Africa.

His past experience includes developing and training specialist teams of more than 200 people, air transport security, criminal investigation, counter intelligence and close protection for overseas deployments.

He has also provided media campaign training to foreign forces and provided journalists with support for high profile VIP visits to hostile environments.

Westminster chief executive Peter Fowler said Gwillim's addition to the aviation security business strengthened what was already an impressive management team.

"Our aviation security business is continuing to gather momentum and is developing numerous opportunities in the aviation sector," he said.

Gwillim said: "I am particularly excited at being based, once again, in a part of Africa where I have previously served and know well.  Hopefully my experience of the region and of the security issues involved will assist Westminster's already impressive prospects."

]]> Thu, 01 Mar 2012 10:09:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/39669/westminster-group-hires-former-raf-squadron-leader-as-country-manager-in-west-africa--39669.html <![CDATA[RNS press release - Aviation Services In Country Manager Appointment ]]> http://www.proactiveinvestors.co.uk/companies/rns/120301wsg4170y/ Thu, 01 Mar 2012 07:01:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120301wsg4170y/ <![CDATA[News - Westminster Group shares rise on new countermeasures contract from Gulf police force ]]> http://www.proactiveinvestors.co.uk/companies/news/39336/westminster-group-shares-rise-on-new-countermeasures-contract-from-gulf-police-force-39336.html Shares in Westminster Group (LON:WSG) soared in morning trade on news it secured a new contract for the supply of a sophisticated countermeasures system to a Gulf state police force.

By 9.50 am, the stock was trading at 22.50 pence, up 9.7 per cent from yesterday’s close.

The contract is valued at US$108,000 and was secured by the group's international division following detailed technical assessments and a visit to Westminster's UK operations by the Gulf state police force.

Under the deal, Westminster will provide specialised electronic countermeasures equipment compliant with export control requirements. The contract is expected to be completed in the first half of 2012.

Chief executive Peter Fowler said: “This latest contract award is significant in terms of future business potential.  This is yet another new governmental client to Westminster and could lead to further contract awards following successful implementation.

"I am particularly pleased to be able to announce this new contract award so soon after our previous contract announcement, further adding to our growing high profile client base which is underpinned by a record enquiry flow.

Only a few days ago, the group announced a major 15 year contract to provide complete airport security at an international airport in Africa, a deal which is potentially worth more than US$150 million over the term.

Its aviation division will provide comprehensive ground security operations at the main international airport of a West African nation.

Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, risk assessments and close protection services.  It serves the security, defence, fire protection and safety markets worldwide.

Services can range from product only assignments, such as the supply of specialised scanners, to the design and implementation of an integrated system solution such as a border detection and surveillance system. The majority of Westminster’s customer base, by value, comprises governments and government agencies, non-governmental organisations and blue chip commercial organisations.

]]> Thu, 23 Feb 2012 09:52:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/39336/westminster-group-shares-rise-on-new-countermeasures-contract-from-gulf-police-force-39336.html <![CDATA[RNS press release - New contract with Gulf state police force ]]> http://www.proactiveinvestors.co.uk/companies/rns/120223wsg9247x/ Thu, 23 Feb 2012 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120223wsg9247x/ <![CDATA[News - Westminster Group wins US$150 mln+ airport security contract in Africa ]]> http://www.proactiveinvestors.co.uk/companies/news/39171/westminster-group-wins-us150-mln-airport-security-contract-in-africa-39171.html Westminster Group (LON:WSG) secured a major 15 year contract to provide complete airport security at an international airport in Africa, a deal which is potentially worth more than US$150 million over the term.

Its aviation division will provide comprehensive ground security operations at the main international airport of a West African nation.
 
The contract involves a wide range of detection and surveillance technologies as well as the deployment of security personnel within the terminals, the airside zone and the airfield perimeter.
 
Following a two month pre-deployment transition period, operations will commence in May 2012.

The contract will be funded by a per passenger fee payable directly to Westminster by airlines using the airport and is expected to generate revenues of US$4.5 million in the first year of operation.

Westminster estimates revenues in excess of US$150 million can be achieved, based on current passenger volumes and growth rates being sustained across the life of the contract. 

The airport, which is seeing a marked increase in traffic due to the growing economic prosperity of the country in question, is currently utilised by a number of major European airlines. 

Additional North American and Middle Eastern airlines are expected to commence services in the foreseeable future, further increasing passenger numbers and, in turn, revenues to Westminster.
 
Westminster expects to use existing working capital resources during the early stages of the project. 

The group confirmed that discussions previously referred to regarding potential strategic investors are ongoing.
 
Chief executive Peter Fowler said:  "I am delighted to be able to announce a major new contract award for our aviation security business which will create over 100 new jobs in West Africa and provides good visibility of revenue and earnings for the foreseeable future.
 
"Westminster has valuable reference sites for security solutions in airports worldwide and our aviation business is currently experiencing record interest, including enquiries from several other similar international airports. Last month we announced the appointment of Dr Phil Jackson as the new chief operating officer of our aviation business and his experience will greatly assist in the delivery of this and other potential contracts in this sector.
 
"This latest contract award follows other multi-million contract awards secured in 2011 and is in line with the group's strategy of building large scale, long term, fully integrated security solutions with recurring revenue streams,” Fowler added.

Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, risk assessments and close protection services.  It serves the security, defence, fire protection and safety markets worldwide.

Services can range from product only assignments, such as the supply of specialised scanners, to the design and implementation of an integrated system solution such as a border detection and surveillance system. The majority of Westminster’s customer base, by value, comprises governments and government agencies, non-governmental organisations and blue chip commercial organisations.

]]> Mon, 20 Feb 2012 07:42:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/39171/westminster-group-wins-us150-mln-airport-security-contract-in-africa-39171.html