What it does

Westminster Group PLC (LON:WSG) specialises in screening and security at container ports, airports, transport installations and buildings.

For example, the company has a long-term passenger baggage screening contract at an airport in West Africa.

Westminster receives a fee from all passengers flying in and out of the airport that is paid by the airlines.

Turkish Airlines is the latest airline to start to use the airport.

The Tema contract will be a similar long-term recurring revenue award with Westminster receiving payment for each unit going through the port whether it is screened or not.

During the pandemic it started providing fever screening systems and face masks vending machines.

 

How it is doing

In August the firm launched an online training catalogue as it capitalises on its recently highlighted strategic alliance agreement with JP International Training Limited.

The new training website will provide a platform for companies and potential customers to identify the type of training they require. 

Westminster Group moved into profit in the first half of 2020. 

The group, which was operationally cash positive in the first half of the year, made a profit before tax of £236,000 versus a loss of £787,000 in the first half of last year, on revenues that rose by 24% to £6.96mln from £5.61mln.

 

What the boss says: Peter Fowler, chief executive

“These results, against a backdrop of the COVID-19 pandemic, are an outstanding achievement due, in part, to our multiple revenue stream business model and is a testament to the dedication and hard work of all our employees, some of whom have been isolated overseas for several months.”

“These uncertain times present both challenges and opportunities for Westminster, and over the next few months and years we have an opportunity to build on our current achievements and our year on year growth, with the potential for step changes in revenues from the many prospects we are pursuing.”

 

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