Last checked at 11 Jun 2008 07:00
11th June 2008
Westminster Group Plc: AGM Statement
At the AGM of the Westminster Group plc ('Westminster' or 'the Group'), the AIM listed supplier of system solutions and products to the security, defence, fire protection and safety markets worldwide, to be held today at 2.30pm at 4 Coleman St, the Chairman, Sir Malcolm Ross, will give the following trading update.
"In my closing remarks of my Chairman's Statement within the Annual report for 2007, I stated my belief that Westminster is facing exciting times with tremendous opportunities ahead of us. I am therefore pleased to confirm that the Group has started 2008 on a very positive note with order intake in the first 5 months at record levels. Orders worth £3.85 million have been secured (2007:£0.6million) including a major security project for Juba International Airport in Southern Sudan valued at approximately £2.3m (USD4.7million).
In addition, we have secured important new contracts for a perimeter security system for a petrochemical plant in Kuwait valued at circa £100,000 (USD200,000), an interception system for a Sub-Saharan African government valued at circa £450,000 (USD900,000), further contracts for additional branches of Eco Bank in Ghana, West Africa valued at circa £45,000 (USD90,000), several contracts for various projects within the UK valued at circa £400,000 as well as numerous smaller contracts around the world.
Enquiry levels remain high across a wide product set and geographical spread. This is further proof of the importance of the investment in the agent network and their understanding of the breadth of the Westminster product range.
Our current order book now stands at £4.5million which gives the Board confidence that the current year will be in line with market expectations."
Enquiries:
Peter Fowler 01295 756 300
Chief Executive - Westminster Group Plc
Clive Carver 020 7600 1658
FinnCap
Tom Cooper/Paul Vann 0797 122 1972
Winningtons Financial
Notes:
Westminster Group plc is a leader in the supply of system solutions and products to the security, defence, fire protection and safety markets worldwide.
Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions. These can range from product only assignments, such as the supply of specialised scanners, to the design and implementation of an integrated system solution such as a border detection and surveillance system. The majority of its customer base, by value, comprises governments and government agencies, non governmental organisations and blue chip commercial organisations.