Seems rather crass to mention this now,..... but the terrorist attack in Moscow,.. is an example of why this will/is an important piece of legislation,.. and legislation that will surely lead to a new revenue stream for WQSG.
"The Martyn's Law (Protect Duty) legislation, which will set out standards to protect patrons and the general public from terrorist attacks when in crowded spaces, was expected to come into force within the UK during 2023, but due to parliamentary procedures, is now expected to be in the King's Speech to parliament on 7 November 2023, for implementation in 2024. The Home Office estimates that 650,000 UK businesses could be affected. This could include settings such as pubs, shopping centres, music venues, parks, places of worship and any other place where large gatherings of people occur. With Westminster's expertise and portfolio of products and services we are well placed to assist businesses and organisations improve their security. In this respect, we have already secured a number of important contracts ahead of the legislation coming into force and are in contract discussions with a number of other potential customers. We believe this could be a sizeable business opportunity for the Group. For more information on Protect Duty, see here: https://www.wg-plc.com/protect-duty#"
"Sierra Leonean President Julius Maada Bio has opened an historic new terminal building at Freetown international airport, the latest milestone in a development plan positioning the pivotal West African state as an aviation hub.
The 14,000 m² terminal building, elegantly designed with a flowing wavelike roof, is three times the size of the airport’s existing terminal and will be able to handle up to 90,000 passengers per month, five times the current capacity, and eight widebody jets simultaneously."
https://www.aircargoweek.com/sierra-leone-president-opens-new-terminal-at-freetown-airport/
https://airport-world.com/freetowns-new-terminal-makes-history-in-sierra-leone/
Win,... agree.
The SL airport figures were apparently trading at record volumes,.. and December/Jan were, traditionally, strong months for volume... - if trend has continued that might interesting...--- not long to go now in any case.
To remind everybody, its' been a bit quiet here of late,... here are the,....... errrrrrrr... highlights (!!!) as described by the company in their half year report to June 2023.
· Delivered products and services to 35 countries around the world.
· West African airport operations operating at record levels.
· Training business operating at record levels.
· Guarding business expanded, including providing new services for the Historic Royal Palaces.
· Progress continues to be made with DRC and other Managed Services opportunities.
· Group revenues £3.5 million (H1 2022: £3.9 million).
· Gross profit increased to £2.24m (margin: 64%) (H1 2022: £1.98m (margin: 51%)).
· Administrative expenses are down to £2.52 million (H1 2022: £2.76 million).
· EBITDA improves to loss of £98k (H1 2022: Loss £648k).
· Operating Loss reduced to £274k (H1 2022: Loss £782k).
· Loss per share of 0.09p (H1 2022: Loss 0.24p).
https://www.lse.co.uk/rns/WSG/half-year-report-ykwhl0y64ponxvq.html
Foxy,... do you not agree with the company as to record numbers?.... Man up. Woman up?
If you have figures that differ to the companies, in terms of traffic.... would be interesting to hear Else do we assume you gave a desk next to Big ears and the like who clearly have issues reading.
Not sure why you are so pessimistic about Lunghi, there have been record figures moving in to 2023 as confirmed in the Annual Financial Statement?
"Our West African airport operations, which, like aviation across the world, had been severely impacted by lockdowns and travel restrictions during the Covid pandemic of the previous years, experienced a strong recovery from around 84% of pre-pandemic passenger numbers at the start of the year to achieving record monthly numbers by the end of the year and this trend has continued into 2023 which augers well for the future."
Scheduled to become law Dec 23/Jan 24.
Over 900k buildings/properties/arena to become compliant.. and fall under regs,... estimated spend in year one to become compliant ranges from £85M to £700M..... low/high scenario.
Clearly a potentially large site inspection and training opportunity, in addition to security upgrading hardware and barrier/blast protection works.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1154338/2023-04-25_Martyn_s_Law_Impact_Assessment.pdf
https://www.wg-plc.com/news/figen-murray-obe-martyns-law-amended-protect-duty
https://www.wg-plc.com/news/westminster-group-introduce-new-product-partner-afss-ltd
.. PF says over £21+M possible this year on their low expectations... made top as follows:
From £7.1… 2021
Plus £2.5M product sales.. ( PF's low end)
Plus £3.5M new solutions sales ..( PF's low end)
Plus £5.5N new services sales...( PF's ow end)
Plus £ 3.5M existing services..( PF's low end)
Additional revenue..... as outlined by PF and the FD..... £15M in 2022—— so combined with 20201 revenue of circa £7M .....£22M+ min this year. Given it is May already and less than 7months,... this is going to be an amazing few months,... or, if they fail to hit it,.... it will be an extraordinarily miss-leading statement and one which should lead to a resignation by both parties to it.
..and WSG acquire the Flying PIG contract..... RNS to follow,.....
just submitted these:
1. How many years in the past 10 years has WSG posted a pre-tax profit?
2 .PF- do you not feel it is time to step down as CEO given the destruction in share holder value that you have provider over and your constant failure to deliver, despite reassuring shareholders, relentlessly that next year... "will be transformational"?
"I’m not comparing the two airports , I used Diori Hamani airport to demonstrate how Summa generate their revenue which is the same as WSG. }
ERRRRR... yes you did..,. you said :
"Summa airports shelled out $170m for a similar 30 year BOT concession at Diori Hamani Airport in Niger , they generate revenue by charging circa €52 ( $57 ) pr departing pax - so reasonable to assume a similar set up at SL .:
-- .. and as to this... ? Big Ears ...full of WAX..???
o?
Charges and payment
ln consideration of the provision of the Services Westminster will issue an invoice for the Security Fee to the Airlines at the end of each month relating to the number of Passengers of each Airline during that month and the SLAA shall procure that the Airlines pay the Security Fee monthly to Westminster. Notwithstanding that it is the Airlines that will pay the Fee, the SLAA will ensure the enforcement of this through the application of appropriate sanctions against defaulting Airlines including, where
required, removal of take-off rights.
It is agreed that nothing in this Agreement prevents Westminster from increasing its Security Fee or raising a separate charge to any individual Airline should that Airline request additional equipment or services. Westminster will keep the SLAA informed of any such change.
Subject to the remainder of this clause, the parties agree that they will promptly meet to discuss and review the Security Fee annually from the third anniversary following the Commencement Date (the 'Review Date'). At the Review Date should the annual Passenger volumes have increased by a significant amount, above 50% of the current annual Passenger volume at the date of this Agreement, the Security Fee will be re-negotiated downwards and if the Passenger volumes have decreased by a significant amount, below 50% of the current annual Passenger volume at the date of the Agreement the Security Fee will be re-negotiated upwards. The SLAA shall give due and careful consideration to any comments or concerns raised by Westminster but subject to the remainder of this clause shall have the final decision on any Security Fee increase. Notwithstanding the previous sentences, the minimum annual increase of the Security Fee shall be at the annualised rate of change taken from the most recently published Consumer Price lndex (CPl).
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Interesting to note that the contract to which Big Eyres referred confirms that if pax volume increases...or decreases, significantly. then WSG fee will be re-negotiated--- pretty much as you would expect given the economy of scales that I mentioned earlier.
Big Ears .. txs for link.
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"I’m not comparing the two airports , I used Diori Hamani airport to demonstrate how Summa generate their revenue which is the same as WSG. }
ERRRRR... yes you did..,. you said :
"Summa airports shelled out $170m for a similar 30 year BOT concession at Diori Hamani Airport in Niger , they generate revenue by charging circa €52 ( $57 ) pr departing pax - so reasonable to assume a similar set up at SL .:
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SL government have explicitly stated that it won’t be costing the tax payer a bean , so on that basis Summa will have to rinse every dollar out of that airport to service their outlay.
ERRRR... ??? why does that impact WSG iof their fees come from the Airlines?
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Let me ask you a straight question - Do you believe WSG will continue through to 2027 on the same terms as the attached contract ?
EWRRRR... I have no idea,.. Yet you seem to do that you do?..So perhaps you should answer the question,... why do you think that their income will be adversely affected by the new terminal etc., as you see seem to suggest...??