Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is issuing a trading update for the 6-month period to 30 June 2020 ahead of its 2020 unaudited interim results announcement which is expected to be released on 14 August 2020.
Notwithstanding the impact of COVID-19, trading for 2020 started on a positive note and this has continued throughout the first six months of the year. Accordingly, the Board expects to announce an increase of around 24% in H1 2020 revenues to c£7.0m (H1 2019: £5.6m) delivering a much-improved financial performance with a pre and post-tax profit. Cash at 30 June 2020 stood at c£1.6m
Commenting on trading, Westminster’s Chief Executive Officer, Peter Fowler, said:
“We have achieved impressive double digit percentage year on year revenue growth over the past few years and it is pleasing to report that, despite the impact of COVID-19 on parts of our business, this trend has continued during the first six months of 2020.
“Whilst the COVID-19 pandemic continues to create uncertainty for businesses around the world our business model and multiple revenue streams from diverse sources and regions worldwide does provide Westminster with both opportunities and a degree of resilience.
“These are exciting times for Westminster, and over the next few months and years, we have an opportunity to achieve unprecedented growth from the prospects we are pursuing, and the Board and I remain committed to delivering on this potential.”
Investor Webinar
The Company will be holding an investor webinar at 12:30 pm on 23 July 2020 to provide an update on the Company’s activities and trading. Further details and registration details are available on the Group’s website at https://www.wsg-corporate.com/investor-relations/. Questions can be submitted in advance to Westminster@walbrookpr.com.
westminster