- Westminster Group says the business is now in a better position than it has been for some time as it continues to expand its international presence including the establishment of subsidiaries and an operational office in Germany which will provide strategic support for our projected growth.

"A defining and key focus for the Group in recent months has been on closing the long term Middle East project opportunity which is expected to result in revenues in excess of £35m per annum," said CEO Peter Fowler.

"I am pleased to report that we have made substantial progress with this complex project. Following extended discussions over recent months around the scope of works, preparations are now being made for certain Board members and myself to travel to the country concerned for what we hope will be final negotiations, although with complex projects of this nature there can never be certainty as to timing or outcome.

"We expect to provide an update on developments in the near future.

"Airport security solutions and our experience in the sector represent a significant growth opportunity for the Group and we continue to progress a number of long term prospects, both those under existing MoUs and others that are at an early stage.

"As I mentioned in our 2016 Annual Report, we have an opportunity to achieve unprecedented growth from the many prospects and initiatives we are pursuing, any one of which could be transformational for the Group, and the Board and I remain committed to delivering on this potential."

At 9:29am: [LON:WSG] Westminster Group PLC share price was +2.88p at 16.25p

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