REG - Westminster Group - Central African Republic and Trading Statement

WestminsterAnnouncement

19/11/2021 07:00

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RNS Number : 8926S  Westminster Group PLC  19 November 2021

 

Westminster Group Plc

('Westminster', the 'Group' or the 'Company')

 

Central African Republic

and

Trading Statement

Westminster, the specialist security and services group, notes recent press
speculation with regards to a potential airport contract in the Central
African Republic, and also provides the following trading statement.

Central African Republic (CAR)

In the normal course of business, we do not comment on contracts until they
have been signed.  However, the Company confirms that it is in discussions
relating to a managed services contract, although there is no certainty as to
whether these will result in a contract or to the timing thereof.

Further announcements will be made in due course, as required.

Trading Statement

 

The Company had anticipated securing and commencing the contract referred to
above, and select other contracts, including its managed services contract for
5 airports in the Democratic Republic of Congo ("DRC"), earlier this year.
However, as cautioned in the Company's interim results statement released on
13 August 2021, the impact of, inter alia, ongoing COVID-19 related travel
restrictions, a delay in ratification of the DRC contract, and ongoing general
business caution across the Company's targeted jurisdictions, have delayed
certain anticipated contract awards and/or associated revenue generation.
Consequently, the Company now expects H2 2021 revenue to be marginally ahead
of H1 2021 and H2 2021 loss before tax to be broadly similar to H1 2021.

 

In addition to the above mentioned CAR contract the Company notes that it is
in advanced discussions on several sizeable potential contract awards that
could positively impact this year's expected outturn, although it is more
likely that these will slip into 2022.

 

Our existing business continues to improve with the ongoing recovery in
aviation. This, and the new contracts which are expected to come on stream in
2022, gives us confidence in current market forecasts for 2022 and beyond.

 

Commenting, Westminster CEO, Peter Fowler, said:

 

"We continue to work on numerous opportunities around the world to follow on
from the 20-year contract for airport security for 5 airports in the
Democratic Republic of Congo (DRC) signed in June 2021, which is currently
undergoing the final stages of the ratification process. This has taken longer
than anticipated, partly due to discussions regarding a significant expansion
of scope.

 

"In this respect I am particularly pleased to have entered into a strategic
co-operation agreement with the Africa Union Financial Services DRC who are a
large multi services organisation with numerous large-scale investment and
security projects, including managing the security screening and traffic
operations at DRC's ports and borders. I believe the complementary skills and
services of our two groups will deliver significant joint opportunities.

 

"We are pleased that these contracts will underpin the strong expectations in
2022."

 

For further information please contact:

 

 Westminster Group Plc                                      Media enquiries via Walbrook PR
 Rt. Hon. Sir Tony Baldry - Chairman
 Peter Fowler - Chief Executive Officer
 Mark Hughes - Chief Financial Officer

 Strand Hanson Limited (Financial & Nominated Adviser)
 James Harris                                               020 7409 3494
 Ritchie Balmer

 Arden Partners plc (Broker)

 Richard Johnson (Corporate)                                020 7614 5900

 Tim Dainton/Simon Johnson (Broking)

 Walbrook (Investor Relations)
 Tom Cooper                                                 020 7933 8780
 Paul Vann
 Nick Rome                                                  Westminster@walbrookpr.com

 

 

Notes:

 

Westminster Group plc is a specialist security and services group operating
worldwide via an extensive international network of agents and offices in over
50 countries.

 

Westminster's principal activity is the design, supply and ongoing support of
advanced technology security solutions, encompassing a wide range of
surveillance, detection (including Fever Detection), tracking and interception
technologies and the provision of long-term managed services contracts such as
the management and running of complete security services and solutions in
airports, ports and other such facilities together with the provision of
manpower, consultancy and training services. The majority of its customer
base, by value, comprises governments and government agencies,
non-governmental organisations (NGOs) and blue-chip commercial organisations.

 

The Westminster Group Foundation is part of the Group's Corporate Social
Responsibility activities. www.wg-foundation.org
(http://www.wg-foundation.org)

 

The Foundation's goal is to support the communities in which the Group
operates by working with local partners and other established charities to
provide goods or services for the relief of poverty and the advancement of
education and healthcare particularly in the developing world.

 

The Westminster Group Foundation is a Charitable Incorporated Organisation,
CIO, registered with the Charities Commission number 1158653.

 

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