Westminster Share Discussion Threads

[graham1ty] 19/12/2019 07:52

They quote improved EBITDA. But in 1H they paid £503,000 of interest on the incredibly expensive convertible loan note. So, an annualised £1m.

So, they need EBITDA of £1m, just to break even at the pretax level

[graham1ty] 19/12/2019 07:41

So, the great Ghana contract has produced revenue......a few hundred thousand $. Wow.

Double digit revenue growth......from a pretty low base.

This will get ramped up to 20p, then the Placing, then silence for months, then back down again. Rinse and repeat

[this_is_me] 19/12/2019 07:29

Trading Update

We are pleased to report the Group experienced strong growth for the year, both operationally and financially and we expect to report a significant increase in revenues over the previous year, maintaining our double digit year on year growth we have achieved in recent years, leading to a much improved EBITDA.

Both the Managed Services and Technology divisions have performed well for the year.

[here and there] 18/12/2019 13:43

Except this time they are getting paid....big difference

Yet another tech contract been won for several hundred thousand .....

record revenues this year

2020 will be even better

[graham1ty] 17/12/2019 18:47

At the AGM they said
“In March this year, following several months of discussions, we entered into a Technical Partnership Agreement with a Ghanaian company, Scanport Ltd. with the aim and purpose of entering into substantive negotiations with Meridian Port Services Limited ('MPS') regarding a contract to manage, operate, maintain and upgrade, as necessary, the container screening services at the new Tema Container Port in Ghana, West Africa. Westminster's role as technical partner is to provide the requisite expertise and management of the operation.”

So, already by March they had been in discussions for several months. Must be over a year now, and still not signed.

Think I spot a pattern here.......

[graham1ty] 16/12/2019 20:54

Why have they not announced the Placing ?

Er, because they have used every dodgy broker in town, and the last one, SVS has gone into special Administration.

SP Angel have already stuffed all their clients. Must be struggling to find a new bucket shop.

No Placing since July. Come on WSG, pull your socks up

[sammyshares] 15/12/2019 19:24

gap to close

[sammyshares] 15/12/2019 19:05

Down day tomorrow

[madmonkflin] 05/12/2019 16:24

Good day at the office :0)

[this_is_me] 05/12/2019 12:35

Going up again. More contract news on the way?

[globalwill] 03/12/2019 07:23

Another one with an axe to grind for not being able to play the market.....

[nowenterprise] 02/12/2019 16:34

What's your point exactly Graham? Are you still trying to decide how much to invest in WSG? lol. Or how much to top-slice?

But seriously, why haven't you moved on after all this time? (don't answer, it's a rhetorical question ...)

[graham1ty] 02/12/2019 15:22

East Africa MOU, Nov 2012, delay 85 months
Asia MOU, Feb 2015, delay 58 months
"New country" MOU, Oct 2015, delay 50 months
East Africa 2 MOU, Dec 2015, delay 48 months
MIddle east 1 MOU, JAn 2016, delay 47 months
Border project MOU, Feb 2016, delay 46 months
Iran, MOU and LOI, March 2016, delay 44 months. “Signed” but not operational
Ghana TPA June 19, delay 6 months

That "adds up" to 384 months of aggregate delays, exactly a 32 year wait !! Nothing new ( apart from Ghana) has been signed for almost four years, so that flurry of supposed activity either side of Christmas 2015 has produced absolutely nothing.

Just shows that the MOUs and LOIs are meaningless, unenforceable, and give no guidance at all as to likelihood or timing of receiving any contract at all. The MOUs cannot be anything more than “yes, let us have a chat about what you might be able to do for our airport security” and no more. Whatever they say, WSG conversion rate is.......er, zero.

The most recent five MOUs are all coming up to four years old. Are they really still talking to these people ? Feb 22 was the third anniversary of the Border MOU. Wonder how that is getting on ? They said three years ago “The authorities in the country concerned regard this project as a high priority and have selected Westminster, entering into an exclusive MoU with them, based on Westminster's reputation, experience and capabilities. In accordance with the terms of the MoU Westminster will now be undertaking a gap analysis and feasibility study prior to finalising contract negotiations.”. High priority !!!!!! What a farce. Finalising contract negotiations!!!!! What a lie !!

[enfranglais] 28/11/2019 17:51

The directorship & stuffed brown paper not working?!!!!!!!!!!!

[chinadog3] 27/11/2019 12:18

Nicely blue. Hoorah!

[dodge_city] 26/11/2019 14:00

Oh well back to 9p.

[dodge_city] 25/11/2019 22:28

Probably in the New Year.

[here and there] 25/11/2019 14:53

The new director has no influence over the time of the contract signing. Luckily the dispute between MPS and GPHA has been resolved which clears the way fro MPS to finalise the terms on its contracts with its suppliers....WSG being one of them. Think it will land any time in the next few weeks

[excellance] 24/11/2019 23:12

Ghana obviously.

[here and there] 24/11/2019 14:33

Which contract ? They have numerous potential contracts in the offing in Africa alone

[enfranglais] 23/11/2019 10:45

Makes a change from a "padded envelope", perhaps some African nations are employing more "sophisticated" methods of extracting their "pound of flesh"?!!!!!!!!!!!
Was on holiday in Vichy a number of years ago & had an evening in the Casino, where at least half the players were from ex. French African colonies & they were "recycling" the funds they had received back to France on the tables!!!!!!!!!!!!

[graham1ty] 22/11/2019 13:08

Esteban, no idea, none of us have a clue, so won’t speculate.

If they do sign a profitable, multi year contract, well done them

As you are well aware, the problem is that they have been on the brink of signing about eight different contacts over the last ten years. The only large, recurring revenue contract they have signed was the disastrous ferry

Good luck to them.

[esteban1] 22/11/2019 12:28

....and do you believe the contract mentioned on here earlier is profitable?