Westminster Group PLC (AIM:WSG) said it is continuing to see a recovery in most areas of its businesses after the disruption caused by the pandemic.
“I am particularly pleased to see our West African airport operations operating at new record levels, ahead of pre-pandemic volumes,” said Peter Fowler, the security and training specialist’s chief executive.
“Our training business is also showing strong recovery with a number of important new contracts including a major UK airport,” he added.
"It is also encouraging to see some of the larger project opportunities we have been working on, which were delayed during the pandemic, once again looking promising.”
Interim revenues to end-June 2022 rose 13% to £3.9mln with gross profit 27% higher at £2mln and an underlying loss [EBITDA] of £648,000 (H1 2021: loss of £810,000).
Westminster said this was in line with expectations, adding that full-year results will be heavily weighted towards the second half.
“This year was always expected to be H2 weighted as we emerged for the global pandemic, and this remains the case,” Fowler added.
“With our recurring revenues now running at circa £5mln per annum and with over £3.5mlm in new orders secured so far this year, the majority, if not all of which, we expect to deliver in the year, we expect to secure and deliver further revenue in the remainder of H2 in line with current market expectations.”
Westminster is also busy ahead of the Protect Duty legislation, which is expected to come into force within the UK later this year and will introduce standards to protect patrons and the general public from terrorist attacks in crowded spaces.