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Westminster swings to profit after jump in sales of fever-screening systems

By BFN News | 07:22 AM | Friday 14 August, 2020


Security services provider Westminster swung to a modest first-half profit after the provision of safety and fever-screening systems for Covid-19 helped offset a collapse in the airline sector. Pre-tax profit for the six months through June amounted £0.24m, compared to a loss of £0.79m on-year. Revenue jumped 24% to £7.0m. The company did not declare an interim dividend. Chief executive Peter Fowler said the results were an 'outstanding achievement' given the backdrop of Covid-19. Revenue at Westminster's services division slipped to £2.2m, down from £2.5m. But revenue jumped 54% to £4.7m in the technology division, which supplied safety and screening products around the world, including to several US football clubs. 'These uncertain times present both challenges and opportunities for Westminster, and over the next few months and years we have an opportunity to build on our current achievements and our year-on-year growth,' he said. Fowler said there was the the potential 'for step changes in revenues' from the prospects the company was pursuing. Story provided by StockMarketWire.com

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