Westminster wins $0.6m security contract

Westminster Group, the AIM-listed supplier of systems solutions and products, has secured a $0.6m contract to supply a range of specialist security equipment to a sub-Saharan government in Africa.

The contract is to supply a range of specialist items as part of a confidential program to equip a secure laboratory which is to be used by the country's state security services in the fight against criminal activities.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Chief executive Peter Fowler said: "I am delighted to be able to announce another important new contract award which illustrates Westminster's growing international reach and reputation.

"Westminster is now active in many countries throughout Africa. The board's focus on building the group's international presence on the African continent over the past few years is now showing significant potential.

"An indication of that potential can be seen from a recent report from the IMF which states that in the next five years seven of the world's ten fastest growing economies are expected to be in sub-Saharan Africa, including many of the countries we are already active in."

Despite the win, the share price fell 16.22% to 7.75p by 13:14PM.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.