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Westminster ( (GB:WSG) ) has shared an announcement.
Westminster reported strong revenue growth but remains under strain from delayed accounts and temporary cash-flow pressures, which have kept trading in its shares suspended until May 2026 results are published. The group expects a 35% rise in full-year 2025 revenue to about £8.2m with a reduced EBITDA loss, and half-year revenue to December 2025 to double to roughly £7.5m, delivering a modest EBITDA profit.
Cash constraints stem from uncollected revenues in Sierra Leone and Gabon, with around $3.5m held in escrow in Sierra Leone and about £3.5m recorded as debtors in Gabon, prompting Westminster to seek short-term loans and longer-term funding. A proposed $2.5m strategic investment, an offshore project finance facility expected by May 2026, and other funding options are being weighed to support growth and restore share trading.
Operationally, a commission in Gabon has cleared the way for a new decree that should unlock the 15+ year airport security contract, with monthly revenues of about $600,000 to $700,000 anticipated from May 2026 and annualised revenue potential of roughly $8m. Westminster is also progressing its Democratic Republic of Congo airport contract when conditions allow, completing a $1.7m EU-funded airport upgrade in Southeast Africa, and exploring a follow-on managed services deal.
The company’s broader pipeline remains robust, including a fast-growing guarding division with a 48% rise in hours in 2025 and several large airport and port security opportunities in Africa, Europe and the Middle East. High-level talks with a West African state over a major port and border security project, and a joint venture with a major U.S. group on perimeter security for U.S. Air Force bases, underline Westminster’s efforts to convert its global pipeline into recurring, higher-margin revenues and long-term contracts.
More about Westminster
Westminster Group Plc is an international provider of managed services and technology-based security solutions, focused on airport, port and border security across Africa, the Middle East and other regions. Its offerings include long-term aviation security operations, guarding services, security systems installations and aviation security training, targeting government, infrastructure and commercial clients worldwide.
Technical Sentiment Signal: Sell
Current Market Cap: £3.84M
Learn more about WSG stock on TipRanks’ Stock Analysis page.