Westminster Group advances on restructuring efforts

Westminster Group shares rose Thursday after the security systems supplier announced restructuring of the group's businesses into two new divisions.

Westminster Group shares rose Thursday after the security systems supplier announced restructuring of the group's businesses into two new divisions.

The company said a managed services division and technology division were set up so it could focus on its growing international opportunities.

The managed services division will look after long-term managed services contracts such as security in airports and ports.

The technology division will focus on providing technology-led security solutions - including surveillance, detection, tracking and interception technologies - to the security, defence, fire protection and safety markets.

As part of the restructuring, the firm is also selling its two UK focused subsidiaries, RMS Integrated Systems, including CTAC and International Monitoring Services Ltd, to a management buyout. The firms, which supply alarm services, will be acquired by Amba Defence.

"[...] I believe these changes will not only assist the group focus more effectively on its international business opportunities but will streamline our operations with cost savings of approximately £1.3m per annum," said Chief Executive, Peter Fowler.

RD

Recommended

Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021
What the best-performing investment trusts of the past 20 years can teach us
Investment trusts

What the best-performing investment trusts of the past 20 years can teach us

Forty-two trusts have risen more than tenfold over the last two decades. What made the winners stand out? And how can we identify future outperformers…
12 Oct 2021
Activision Blizzard: a cheap play on videogames
Share tips

Activision Blizzard: a cheap play on videogames

Videogame maker Activision Blizzard has been in the news for the wrong reasons lately. But it has a bright future, says Stephen Connolly.
11 Oct 2021

Most Popular

Why the world’s most important economic data release has unnerved markets
US Economy

Why the world’s most important economic data release has unnerved markets

The US added only 194,000 jobs in September, far shorter than the 500,000 that were expected. John Stepek explains why markets didn't react as they no…
11 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
Inflation is still one of the biggest threats to your personal finances
Investment strategy

Inflation is still one of the biggest threats to your personal finances

Central bankers and economists insist inflation will be gone by next year. We're not so sure, says Merryn Somerset Webb. So if you haven’t started to …
1 Oct 2021