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Westminster Group starts PPE vending project and sees unprecedented growth opportunities.

Westminster Group PLC (LON:WSG), the security and managed services specialist, has started a new project to introduce specialist 'unattended retail' vending machines that will dispense masks and facial coverings in the UK. The company has signed an exclusive agreement to distribute and market the machines in the UK unattended retail space Truvend, said chief executive Peter Fowler, a subsidiary of an existing supplier and a manufacturer of a wide range of vending machines specifically for PPE items. Fowler told shareholders that trading has continued to go well throughout the first six months of the 2020 financial year.

"We are continuing to manage our cash resources well, and as of today's date the Group has cash in the bank of circa [pounds]1.7mln," he said in a statement ahead of the AGM. "Since the start of the COVID-19 crisis, we have maintained full employment of all our staff and have remained extremely busy, even expanding parts of our business," he added. Elsewhere, some flights at the West African airport where it provides security are pencilled in to resume in mid-July as coronavirus restrictions ease. Fever screening trials at Stockholm Airport were concluded successfully, Fowler said, and Menzies Aviation is confident that it can now offer the Westminster solution to global clients as part of its wider commercial package. Container screening operations in Ghana, meanwhile, have been largely unaffected by COVID-19 and continue to generate healthy returns, Fowler said. A new air training programme partner has also been signed to enhance its e-product services. "These are exciting times for Westminster, and I look forward to the website's further expansion in the weeks ahead together with the various other expansion and marketing initiatives we are undertaking," Fowler said.. "Despite the lockdown and inability to travel, discussions have been continuing with a number of prospective clients for significant managed services contracts. "Over the next few months and years, we have an opportunity to achieve unprecedented growth from the prospects we are pursuing."

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Publication:Proactive Investors United Kingdom
Geographic Code:4EUUK
Date:Jun 26, 2020
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