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I don't think they need to raise...if anything I think they may pay off the loan.
At last count, they had:
1. Remainder of mezzanine loan
2. £1.6mil cash
3. £400k of extra stock
4. Made a profit after tax in H1 and expect this to continue in H2.
5. I expect they will make a much bigger profit in H2 as they will have a full half year of full speed ahead covid related sales and recovering Lungi Numbers and growing Tema numbers.
6. So many other parts of the business starting to motor : Online training, massive guarding contract, hopefully Menzies deal and PF hoping for another MSC this year.
Never been so hopeful....what's not to like?
AIMO
HB
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Well we are certainly going for it now. Adding products by the day.
Common WSG we can make millions out of this silver lined cloud.
I don't need continual updates but in this exceptional situation I wish we could get some indication from PF as to the momentum in sales. If it's as good as I hope then it would help achieve the increase in SP that PF says is a main objective this year.
https://twitter.com/wg_plc/status/1308055948368523265
Westminster offer flexible training packages for all your cargo training needs. Our Regulated Agent and Known Consignor training can be delivered online or classroom based and can include the practical elements if required.
Seems to be a big focus on these online training packages. It will be interesting to see if they are a leader into other business or justify themselves. More importantly, are there volume enquiries and sales to back up all the hype on twitter. Can't hurt us and so another potential for income this year.
https://wg-plc.com/courses
#aviationtraining #cargo
HB
https://twitter.com/EDI_Airport
So they've got a whole new set of sanitisation stations etc.
Then we see:
Westminster would like to extend our thanks to @EDI_Airport for their donation of over 200 airport security trays. They will be redistributed by the Westminster Group Foundation to airports in developing countries and will make a huge impact on the operation of these airports.
Look at the EDI video on twitter and looks very close to the ones on our shiney new website.
All a coincidence or....
Back to my dream:)
HB
I suspect the purchases at the start of the day are from the same place and so that adds up to approx 2m shares.
The shares bought and sold stated on this BB front page are way out. Not sure why as the number of trades is correct.
Anyway, tomorrow is something to look forward to as if the same purchases are tried again then the share price will go up much more than 10%.
Not having a single one of mine for another couple of years when with a fair wind we'll be in the £s
Sorry for the dirth of messages...the buying today was so unusual and got me a bit excited.
AIMO
HB
Here's some possibilities that would make us (Particularly the LTH's) smile:
1. PF has decided to put his hand in his pocket
2. An II has decided to take a position
3. Someone in the know has got a wiff of a big MSC or Menzies or other big tech contract
4. Maybe someone thinks we are ultra cheap (which we are) and is starting to acquire us. There's been some consolidation I think in the security sector recently I believe:)
5. Someone in Saudi knows we are discussing Ports and we are possible winners
6. and for fun...someone knows Trump is going to lose the election, the JCPOA is back on and the Iranians have agreed a start date for our contract:)
7. We have provided tech kit to every police dept in America:)
8. We have provided tech kit to every American football team, Baseball team and Basketball team in America
9. We have put 1000 vending machines across all transport hubs in the UK and they keep selling out:)
Any or even all of these are fine with me. Feel free to add.
At the end of the day someone has bought approx £100k worth of us today alone. That's not small change for anyone and so come on own up and tell us why.
We can hope for an RNS tomorrow for any number of the above or even just to confirm who now has a substantial shareholding...or PF has increased his. No law against dreaming.
AIMO
HB
Win4call, I'm not sure we're going to get anyone to own up to that one. I think this share mularky is not for them when they lose money on a day the share that is up 10% at close of play!
So, does anyone want to own up to that or the 900k shares scooped up? Nothing wrong in asking.
HB
I do understand the frustration but the half year update and the webinar(forget how it was presented) gave us all we needed to clarify Covid and tech sales and even the Tema numbers.
There’ll be no hiding from the numbers at the year end report and so I believe they will be good otherwise they would not have been so bullish in the H1 report and the news on 18th Aug.
All will be revealed and I continue to hold and occasionally add.
Guess I’m glass half full.....probably based on how good I think PF at winning deals which by rights we should not be based on our size.
HB
Hopefully our training JV will be able to help us market this to our target market and then make som money on this part of WSG.
Historically, always been a loss leader to get MSC and tech contracts from purchasers.
Hopefully, they’ve done their homework and priced it to be profitable. In turn helps us reduce using our profits to cover this and even better if it makes a profit on its own.
All good but reserve judgement and let’s see if it can make money first.
At least they are doing things enhance our proposition.
AIMO
HB
Have to disagree Win4 call
Whilst Tema is not as big as PF alluded to at the 2019 AGM, it’s still significant in terms of income and adds massive credibility to our port MSC proposition....at a time when we are bidding for Ports in Saudi. Taking this into account this was an amazing win for us.
As for the cumulative income from tech sales, the report on 18th Aug states we’ve had sales all across US and so I think you’re being very pessimistic. I would guesstimate a doubling of the Covid related sales in H2 as we only really had 3 months of these in H1.
Add in Lungi recovering, the huge guarding contract and Tema growing and I think we can hope for a much more profitable H2. In turn, unlikely to need to raise funds and who knows maybe even enough to pay off CULN.
Oh and let’s not forget the vending machines?? Just joking as expect this to be a white elephant but if they have put out hundreds of them then who knows.
AIMO
HB
They made it very clear that they wouldn't be announcing each contract as there were loads of them but each in isolation didn't justify an announcement.
There weren't many announcements even before this in H1 and look what they did from a standing start on covid kit from about March. ...offset the loss of Lungi and other operations and made a PROFIT:)
I believe that they have ramped up on H1 kit sales, Lungi is recovering and Tema is growing and so I think we can look forward to some stellar H2 profitable numbers. All the other transformational opportunities are the icing on the cake.
PF hoped to get another MSC by the end of the year...if he does that then we are in great shape and even our resident doubters would, I think, agree with this.
AIMO
HB
Well they've talked a good story...from the contract on 18th Aug:
''The Walk-Through Fever & Metal Detector with Facial Recording has proven to be very successful in the US market, with contracts being awarded from schools, sport steams and other law enforcement offices across the States.''
Just one contract in each state would be huge.
Off to bed to dream.
HB
Yes, a brilliant website and better than I expected given past comms from them. Credit where credit due.
It will be very interesting to see how much kit we sell in H2 given the new marketing and sales peeps, the new website and a world that is clamouring for this stuff. It would be great to see them make a stonking profit and pay of the CLN.
HB
Good luck to you on your call...it's your money.
You say '' inability of being able to make any meaningful footprint in the COVID detection market '' I'm hoping the value of this will be reflected more in H2 as this is when most of the fever detection and sanitisation business will be done. That's my call with my money.
HB
Comprehensive range of kit and perfect for the current situation. We must be selling shed loads of this stuff.
Lots of opportunity in H2 what with covid and non covid kit, Lungi back online, Tema growing, huge guarding contract won and all these other potential MSC's and Menzies for starters.
AIMO
HB
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Posted on twitter:
https://twitter.com/wg_plc/status/1303325869981741057
I guess you are a glass half empty person then. I'm confident for the following reasons as this is what we KNOW is happening now:
1. Lungi numbers recovering
2.Tema numbers increasing due to expanding no of births and TEUs as is evidenced recently
3. Huge tech sales of covid and non covid gear
4. Keyguard contract making a significant contribution
5. Vending business could turn out to be a winner
6. We're profitable and have £2m of cash and stock.
7. No need for any raise as have the cash and remainder of mezzanine (or whatever it's called) if we need it.
The first 4 of the above are the vast majority of our predictable income and they are ALL increasing dramatically this year and especially in H2. What's not to like and we were profitable in H1, I'm excited about H2.
IN ADDITION, one of the following transformational deals may come off during the second half of the year as well:
1. Menzies appoint us for all their locations:) Wow
2. Africa MSC is completed and/or the other MSC referred to in last RNS
3. The first of hopefully many Saudi Port MSCs.
....and ever the optimist,the resurrection of the Iran deal when Biden gets rid of Trump
AIMO but this looks great with low risk reward from here given that we are already in profit.
All this backed up by Mark Hughes who stated to me that all the above opportunities are still very much alive as, if not, they would be RNS'd.
Good enough for me to keep adding.
AIMO
HB