Last checked at 30 Jun 2015 11:02
Hardman & Co issues research report on Westminster Group
Hardman & Co have today published a review of Westminster Group's Managed Services Division, which provides infrastructure security and related services, generally to developing markets. It identifies the scale of the opportunity for the group, which has a pipeline of a large multiple of its existing Managed Services business, and concludes that there are significant opportunities available to Westminster. The financial characteristics of the business are unusual in that they provide a very long term cash flow profile with limited incremental capital requirement. This could command an attractive valuation, subject to the specific risks of geography, politics and related issues in the contract portfolio. As the company begins to convert its substantial pipeline into incremental contract wins, there is scope for the market to change significantly its attitude to Westminster Group shares which could enjoy a rerating if the company is successful in achieving its ambitious objectives.
Please click here for the full report:
http://www.hardmanandco.com/sites/default/files/research_papers/Westminster%20Group%202015.pdf
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