Westminster Group (WSG)

Sector:

Defense and Aeronautics

Index:

FTSE AIM All-Share

 2.55p
   
  • Change Today:
      0.000p
  • 52 Week High: 3.50
  • 52 Week Low: 1.08
  • Currency: UK Pounds
  • Shares Issued: 330.51m
  • Volume: 824,828
  • Market Cap: £8.43m
  • RiskGrade: 329
  • Beta: 0.01

Westminster Group successfully begins scanning operations at Tema port

By Josh White

Date: Wednesday 17 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Managed services provider Westminster Group updated the market on its operations at the new Tema Container Port in Ghana on Wednesday, a $1.5bn investment project by Meridian Port Services to expand the port's capacity from to more than 3.5 million 20-foot container equivalent units (TEU) per annum from one million.
The AIM-traded firm had announced on 18 June that Scanport had received a letter of intent with MPS acknowledging Westminster as the technical partner regarding a contract to manage, operate, maintain and upgrade, as necessary, the container screening services at the new Tema Container Port.

It reportedly set out the preliminary terms regarding the appointment and scope of work, and that negotiations were underway towards concluding a contract within the 30-day exclusivity period.

"Whilst formal contracts have not yet been finalised, the Scanport-Westminster partnership is the sole appointed contractor for scanning operations at the new port and has established a full scanning operation both at the primary scanning stations at the import and export gates and also secondary screening services at the intensive search area for physical inspections," the Westminster Group board said in its statement.

It said that in total, the operation was employing around 50 people, with another 124 applicants undertaking induction and x-ray training by Westminster specialists.

"The letter of intent is therefore being extended for a further period to allow for the definitive contract to be finalised with MPS."

The first phase of the port expansion project was formally opened for business on 28 June, with the first two trial vessels successfully processed as all operations, including screening, at the port were tested to "iron out" any teething issues.

The scanning services had performed well, the company confirmed, and were now operational around the clock, with around 2,000 containers screened by Westminster to date.

"Following successful operations across the port, it is expected that activity will continue to ramp up during the coming months as more and more vessels move to the new port.

"Further details will be announced in due course."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

WSG Market Data

Currency UK Pounds
Share Price 2.55p
Change Today 0.000p
% Change 0.00 %
52 Week High 3.50
52 Week Low 1.08
Volume 824,828
Shares Issued 330.51m
Market Cap £8.43m
Beta 0.01
RiskGrade 329

WSG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.68% below the market average9.68% below the market average9.68% below the market average9.68% below the market average9.68% below the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Price Trend
93.21% above the market average93.21% above the market average93.21% above the market average93.21% above the market average93.21% above the market average
81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average
Income Not Available
Growth
18.18% below the market average18.18% below the market average18.18% below the market average18.18% below the market average18.18% below the market average
40% below the sector average40% below the sector average40% below the sector average40% below the sector average40% below the sector average

WSG Dividends

No dividends found

Trades for 02-May-2024

Time Volume / Share Price
15:31 100,000 @ 2.55p
15:28 193,643 @ 2.58p
13:20 20,000 @ 2.51p
13:15 4,000 @ 2.55p
13:14 52,000 @ 2.55p

WSG Key Personnel

CEO Peter Fowler
CFO Mark Hughes

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