(Sharecast News) - Westminster Group narrowed losses in the first half of its trading year despite a dip in revenues.Revenues slipped 10% to £2.6m but Westminster still managed to cut losses 14% to £1.2m in the six months ended 30 June, thanks, in part, to a new major long-term contract that will see the group offer its services to an Iranian airport.Westminster, which still expects to be EBITDA positive at year end, narrowed its LBITDA by 33% to £400,000.Losses per share were cut from 1.4p to 1p.Westminster also revealed it had roughly £700,000 of unrecognised revenue already banked up for the second half, producing a "strong year-on-year revenue growth" and keeping the firm on track to deliver an EBITDA positive result.Chief executive Peter Howler said: "The first six months of the financial year have been defined by our intense focus, efforts and achievements in developing our managed services business, which has the potential to deliver transformational growth.Elsewhere, with the departure of incumbent chief financial officer Martin Boden on 31 October, Westminster revealed that it had tapped Mark Hughes, formerly of Royal Doulton, to join the board and take over the role of CFO.As of 1010 BST, Westminster shares had dropped 8.70% to 10.50p.