Investment summary

April continued the momentum after Westminster's positive trading update and the defining 15-year c $150m West African airport security service contract. This has been followed up with a series of new business wins, management appointments, marketing agreements and the appointment of a new agent in Malaysia, demonstrating the strategy and the substantial progress being made. With focus on delivering greater recurring revenues and ensuring value-added services, Westminster is increasingly able to deliver large-scale integrated contracts. Furthermore, the long-term visibility afforded by the airport contract provides an opportunity for the significant potential of the group to become increasingly apparent.

Last updated on 23/04/2012

Industry outlook

Westminster is a niche player providing advanced technical security solutions to UK and overseas customers, representing two-thirds of turnover. The balance comprises the provision of close protection services and training, as well as a 24/7 alarm receiving centre and control room.

Last updated on 23/04/2012