Westminster Group PLC (LON:WSG), the supplier of managed services and security solutions, said passenger numbers at its West Africa airport operations have recovered strongly.
As might be expected, passenger numbers dropped off at the height of the Ebola crisis and took a while to recover, but Westminster said the first three months of 2016 saw passenger numbers and revenues hit levels not seen since August 2014.
Compared to the same period of 2015, passenger numbers were up 80% in the first quarter of 2016, and Westminster divulged that owing to operational leverage available through existing unused throughput capacity and costs efficiencies introduced in response to the Ebola-caused drop-off in traffic, the project produced its best ever quarterly contribution.
Capping a great quarter for the Managed Services division's airport security business, the company said its services continue to attract interest from organisations and authorities the world over.
Referring to Memoranda of Understanding (MoUs) recently signed by the Managed Services division’s airport security arm, two have now had full gap analysis works completed enabling preparations to be made for the commencement of contract negotiations.
The gap analysis works for the MoU signed on 20 January 2016 relating to several international airports that had been awaiting relevant security clearances to be granted has now received the green light, and the company's survey team is now due in country at the end of April.
In addition, arrangements have now been completed for the survey team to undertake the gap analysis for the significant international airport in the Middle East announced on 8 March 2016, with analysis due to commence in the week commencing 11 April 2016.
“Whilst there is of course no certainty as to timing or the final outcome of the project opportunities in progress, we believe the progress we are making with a number of these long term, large scale, MoUs now in play, any one of which would be transformational for Westminster, and the momentum we are seeing together with the current security situation worldwide, is encouraging and we will of course continue to update the market on progress in due course,” said Peter Fowler, chief executive officer of Westminster.
On Wednesday, the group revealed the Sierra Queen, the vessel that will be used in the group's proposed ferry service, sustained some damage from an uncharted submerged object. A visual scan of the ferry indicates the damage is limited but repairs cannot be made while the vessel remains in the water.
The ferry is currently securely moored in the boat yard awaiting access to the slip, which is anticipated to be vacated within 7-10 days.
"Regarding the latest news about the ferry I obviously share the frustration and disappointment that both shareholders and potential customers must feel and I sincerely hope any delays will be short lived and that we can commence the service as soon as possible," Fowler said.