StockMarketWire.com - Security services company Westminster Group booked a full-year loss after expenses more than offset a rise in revenue.

Pre-tax losses for the year through December amounted to £1.4m, narrowing from losses of £5.7m on-year.

Revenue rose 24% to £6.7m, despite revenue of £2.2m relating to Middle East project slipping into the first quarter of 2019.

Westminster said 2019 had started on a 'strong and profitable note', with first-quarter orders and revenues ahead of budget.

'We have seen steady year on year revenue growth over the past few years and we expect this to continue,' chief executive Peter Fowler said.

'Based on our current order book, the improvement in our airport passenger numbers and our run rate business, including Keyguard and Euro Ops, we expect 2019 revenues to be significantly ahead of 2018 even without any further new major contract awards, which of course would materially improve the results.'

'Over the next few months and years we have an opportunity to achieve unprecedented growth from the prospects we are pursuing, and the board and I remain committed to delivering on this potential.'






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