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 | 2.50p |
Change Today | -0.050p |
% Change | -1.96 % |
52 Week High | 3.50 |
52 Week Low | 1.08 |
Volume | 303,753 |
Shares Issued | 330.51m |
Market Cap | £8.26m |
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 |
13:36 | 20,040 @ 2.50p |
10:43 | 40,000 @ 2.42p |
10:06 | 99,447 @ 2.44p |
09:52 | 98,968 @ 2.52p |
09:00 | 6,410 @ 2.40p |
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