Westminster Group PLC (LON;WSG) said it hopes to get back to double-digit revenue growth in 2021.
The outlook is looking positive, the security and training group said in a trading update.
“Revenues from existing contracts, including long-term managed services and the revenue slippage from 2020 provide a basis for our optimism together with the ongoing recovery from Covid-19 in our guarding, training and West African Airport operations.”
Westminster provides security for passengers leaving and arriving at Lungi International Airport in Sierra Leone and passenger numbers in January were 14.6% ahead of budget and the highest since it reopened after the pandemic, said the statement.
The Port of Tema container project in Ghana also generated US$2.6mln revenues and this should continue to rise as the port expands capacity and the fourth berth comes on stream later in 2021, added the Aim-listed group.
“For 2020, due to Covid-19 delays and revenue slippage into 2021 we expect to report revenues of around £10m (2019: £10.9m) but due to improved margins still expect to deliver a pre-tax loss broadly in line with market expectations,” said the update.