Westminster Group builds momentum with new contract win

Monday, Jan 10 2011 by
Westminster Group builds momentum with new contract win

Westminster Group Plc (LON:WSG), the AIM listed security and safety systems business, has picked up a new contract worth around $645,000 (£415,000) to supply a sophisticated countermeasures system to a national government in the Far East Under the terms of the contract, the company will provide specialised electronic countermeasures equipment compliant with export control requirements. The contract was secured by Westminster’s international division following a selective tender process and will be completed in the first half of 2011.

Last week, Westminster secured its largest single contract to date with a deal worth several million dollars to supply mobile surveillance systems to a national security service. In early trading this morning, shares in the group rose by 15% to 23p.

Peter Fowler, the chief executive of Westminster, said: “I am delighted to be able to announce this latest contract award which is not only significant in terms of revenue but also future business potential. This is yet another new governmental client to Westminster and further contract awards are likely to follow successful implementation. I am particularly pleased to be able to announce this new contract award so soon after our previous contract announcement which means we are now entering the 2011 trading year with our largest ever secured order book and a healthy enquiry flow.

He added: “This is a further validation of our distribution model via a specialist agency network. Our local agents are able to use their local knowledge and connections to successfully target governments and major corporations with Westminster's range of tailor made security solutions.”


As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.

Do you like this Post?
3 thumbs up
0 thumbs down
Share this post with friends

Westminster Group PLC is a security and services company. The Company's principal activity is the design, supply and ongoing support of technology security solutions and the provision of long term managed services, consultancy and training services. It operates through two divisions, which include Managed Services and Technology. Its Managed Services division is focused on long term recurring revenue managed services contracts, such as the management and running of complete security solutions in airports, ports and other such facilities, together with the provision of ferry services, manpower, consultancy and training services. Its Technology division is focused on providing technology led security solutions encompassing a range of surveillance, detection, tracking, screening and interception technologies to governments and organizations across the world. The Company's subsidiaries include Westminster International Limited and Longmoor Security Limited. more »

LSE Price
Mkt Cap (£m)
P/E (fwd)
Yield (fwd)

  Is Westminster fundamentally strong or weak? Find out More »

3 Comments on this News show/hide all

Elias Jones 13th Nov '12 1 of 3

Anyone following Westminster (LON:WSG) ?

I am not invested in WSG, but it has been on the watch list since the above article by Stockopedia News in January 2011.

WSG does seem like a story that could develop over the next few years, but the market does not seem to be showing much interest, which would be an opportunity cost consideration.

It’s currently a loss making operation (which is probably why the interest is not there as it’s just the story investors who would be considering without a barge pole), but this loss figure has reduced from 1.4m to 100k showing that it could be close to turning the corner, however WSG boasts a quote bank of over £300m having recently won an airport contract for $150m and has some blue chip clients.

Interim revenues were at 15m up 250% and the 32m shares in issue gives it a cap of around £8.7m.

Does anyone have any current thoughts on WSG?

| Link | Share
benchud 14th Nov '12 2 of 3

Hi, if you go to the LSE chat pages there are seasoned investors who have got loads of great links to thier current projects and the CEO is in active discussions to replicate the $150mln recurring rev contract signed in Fbe 2012, they also have new strategicinvestors from the Far East on board to access the India,China,Japan market more , also from those 32mln shares the CEO Peter Fowler owns a big chunk as do other BOD and investors
hope that helps

| Link | Share
Elias Jones 11th Dec '13 3 of 3

If anyone is interested in the Westminster Group story, I am hoping to upload a new Q&A article soon with Mr Peter Fowler the CEO of WSG.

The Westminster Group is an interesting story with seemingly, going by company announcements huge potential attached. Back in February 2012 WSG announced a 15 year airport security contract with a potential value in excess $150m over the first 8 years of the contract alone. WSG also recently announced that the much talked about East African airport prospect which is under a signed MoU continues to progress through the local statutory contract process.

Earlier this year the Westminster Group declared their quote bank had increased by 123% and stood at £783m.

Definitely a lot of jam tomorrow, but the big question is can they convert their leads into hard contracts and deliver, the jury at this moment would be out.

| Link | Share

What's your view on this news? Log In to Comment Now

You can track all @StockoChat comments via Twitter

About Stockopedia News

Stockopedia News

Stockopedia News Bulletins aim to report on stories and companies that are relevant to and popular with online investors.  It's a free service provided to registered users of Stockopedia. 

Stock Picking Tutorial Centre

Let’s get you setup so you get the most out of our service
Done, Let's add some stocks
Brilliant - You've created a folio! Now let's add some stocks to it.

  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
Save and show me my analysis