A ‘particularly strong’ second half has boosted Westminster Group PLC’s (LON:WSG) year-on-year revenues by 33%.
The security group added 2019 had also started strongly with record numbers passing through its West Africa airport operations in January.
Westminster receives a fee from airlines for passengers flying in and out.
Managed Services and Technology divisions continue to have a healthy and active enquiry bank and are delivering on expectations.
Recent manned guard acquisition Keyguards should also add £1.5mln of recurring revenue each year, it added.
Revenues for 2018 will be around £7.2mln (£5.4mln), which excludes US$2m (£1.6m) from a US$4.5m (£3.6m) vehicle screening contract within the Middle East.
Westminster has received payment but shipment is now expected next month and £1.6mln of revenue booked for the first quarter along with £176,000 of commissioning works.
An underlying profit [EBITDA] in 2018 is still possible, the group said, but depends on adjustments for the Keyguard acquisition and collection of an outstanding long-term debt.
Westminster added it still working with its customer to get work started on an airport security contract in Iran signed in May but that was put on hold when the US unilaterally pulled out of the Joint Comprehensive Plan of Action.
No news was forthcoming on a second airport screening contract in Africa that Westminster signed in December but is waiting for government sign-off.
“We are pleased with our 2018 results and most encouraged with the strong start to 2019 both in terms of our operations and in the progression of our various large-scale opportunities,” said the statement.”