By Iain Gilbert
Date: Thursday 15 Aug 2019
LONDON (ShareCast) - (Sharecast News) - Security specialist Westminster Group saw first-half revenues come in ahead of expectations, leading to a sharp reduction in interim losses.
Westminster also turned cash positive on an operational basis in the first six months of the year with its sales order intake unchanged from a year earlier at £3.9m.
The AIM-listed group's revenues soared 117% to £5.6m, driven by a 257% increase in its technology division's sales to £3.1m and a 47% hike in managed services sales to £2.5m.
Based on its current order book of £3.3m, Westminster expects full-year revenues will be "significantly ahead" of 2018.
Costs were cut 23% year-on-year, narrowing Westminster's underlying loss to £49,000 from the £402,000 posted a year earlier.
Pre-tax losses narrowed 34% to £787,000.
Chief executive Peter Fowler said: "In our 2018 Annual Report I was pleased to report that our business is now in a better position than it has been for some time in terms of management, structure, revenues and prospects and I am pleased to report that continues to be the case."
As of 1015 BST, Westminster shares had slipped 0.51% to 9.70p.
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Currency | UK Pounds |
Share Price | 2.55p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 3.50p |
52 Week Low | 1.08p |
Volume | 824,828 |
Shares Issued | 330.51m |
Market Cap | £8.43m |
Beta | 0.01 |
RiskGrade | 329 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
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 |
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