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Westminster eyes bright future as world emerges from coronavirus

Last updated: 08:09 13 Dec 2023 GMT, First published: 13:20 30 Apr 2021 BST

Snapshot

  • Westminster receives Scanport settlement, changes year-end
  • Westminster Group has "delivered a strong recovery"
Airport

About the company

Westminster Group PLC is a British based highly experienced and internationally acclaimed fire, safety, security and defence group operating worldwide through an extensive network of over 100 agents and international offices in over 50 countries.

The group’s customer base comprises, predominately: governments and government agencies, non-governmental organisations and blue chip commercial organisations.

Westminster Group has extensive experience gained over many years in the design, supply, installation and commissioning of a wide range of security and defence solutions including a wide range of anti-terrorism equipment & systems, border security systems and homeland security solutions.

How it is doing

13 Dec 2023

Westminster Group PLC (AIM:WSG) said it received US$500,000, representing around 12 months of contributions, in full and final settlement of its dispute with Scanport for its Ghana port operations.

In a statement, the security specialist said the figure is less than the carrying figure in its accounts, but the terms of the settlement are favourable and timely given the future targeted growth anticipated in early 2024 in its managed services business.

Westminster added that because of the timing of contracts in the managed services division it is changing its year-end from 31 December to 30 June, effective immediately.

The next three sets of results, therefore, will be unaudited interim accounts for the six months to 31 December 2023 to be published by 31 March 2024; audited annual accounts for the 18 months to 30 June 2024 by 31 October 2024; and unaudited interim accounts for the six months to 31 December 2024 by 31 March 2025.

29 Sep 2023

Westminster Group PLC (AIM:WSG) said it was "well ahead" of budget in the first half of the year as its West African airport operations and training business both run at record levels.

Revenues of £3.5 million were reported by the technology-based security specialist for the first six months of 2023, which was lower than the £3.9 million a year earlier due to the termination of the Ghana port operation in February.

22 Jun 2023

Westminster Group PLC (AIM:WSG) has announced a series of board room changes amid a bid to push future profitability.

Mawuli Ababio will step down as a non-executive director following the company’s annual general meeting on June 28, while Tony Baldry will move from an executive to non-executive chairman role.

What management says

02 Jun 2023

Westminster Group PLC (AIM:WSG) chief executive Peter Fowler speaks to Thomas Warner from Proactive after releasing final results for calendar year 2022.

Fowler says that following a tough pandemic, Westminster Group "delivered a strong recovery" during 2022 and has continued to build on that momentum into this year.

He adds that "things are looking encouraging" in 2023 and provides more detail about the group's return to growth.

Westminster Group has "delivered a strong recovery"

Westminster Group PLC (AIM:WSG) chief executive Peter Fowler speaks to Thomas Warner from Proactive after releasing final results for calendar year 2022. Fowler says that following a tough pandemic, Westminster Group "delivered a strong recovery" during 2022 and has continued to build on that...

on 2/6/23