Westminster Group PLC

Westminster Group upbeat as pipeline of prospects grows

Westminster has seen a record number of passengers embark through the West African airport where it provides security

screenng machine
Aviation security revenues are picking up

Westminster Group PLC (LON:WSG) says the current year has started on a strong and profitable note with first-quarter orders and revenues ahead of budget.

“Based on our current order book, the improvement in our airport passenger numbers and our run rate business, including Keyguard and Euro Ops, we expect 2019 revenues to be significantly ahead of 2018,” said Peter Fowler chief executive.

Any further new major contract awards would materially improve the results, he added.

Westminster has seen a record number of passengers embark through the West African airport where it provides security in the past three months.

The security technology and guarding group will also get the benefit of a full year from recent acquisition Keyguard, which had revenues of £1.5mln prior to acquisition.

It has also delivered the last part of a US$4.5mln Middle East vehicle screening contract and in April was awarded a new US$3.4mln deal for two ports in Asia.

The group is also waiting for confirmation of a second airport contract in Africa, though its US$24mln airport security contract in Iran remains on hold due to the withdrawal of the US from the JCPOA accord.

Turnover in 2018 rose 24% to £6.7mln, while underlying losses were reduced to £378,00) from £1.2mln.

“Over the next few months and years we have an opportunity to achieve unprecedented growth from the prospects we are pursuing,” Fowler added.

Quick facts: Westminster Group PLC

Price: £0.10

Market: AIM
Market Cap: £14.14 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Westminster Group PLC named herein, including the promotion by the Company of Westminster Group PLC in any Content on the Site, the Company...



Investor Update: Westminster Group reports 117% increase in first half revenues

Headlines from the Proactive UK newsroom. Westminster Group (LON:WSG) expects all contracts related to the container screening contract at the Port of Tema in Ghana to be completed in the coming weeks and the contract to contribute in the second half of the year. The security group says...

on 15/8/19

2 min read