Westminster Share Discussion Threads

[deanowls] 12/10/2023 14:07

Told you before many times Maccers, I was lucky to make money many moons ago before I got wise to the hype and hot air.

Remind me again of your posts declaring many millions of pounds profit and how they would be breaking the law if they didn’t?

They don’t make the tech, they merely trade it, and it ain’t the good stuff. Anyone worth thier salt deals directly with smiths and rapid an and the likes. If they were that good why are they waiting for the 700k. Dealing with the professionals you have to have some cash up front!

[owenski] 12/10/2023 09:29

Christ, is this garbage still going.

Always was a total bargepole.

[drmaccers] 12/10/2023 08:45

People pay them for tech.The next few large MSCs will be funded by UKF.Obviously you all lost money on WSG and not irrationally hate a company that doesn't know you exist. Chill

[deanowls] 12/10/2023 08:44

Not if they want to win more business. Where’s that cash coming from?

[drmaccers] 12/10/2023 08:26

They've a 400k untouched overdraft and about to get £700k in trade receivable for a tech solution they have already delivered. Cash is good

[graham1ty] 11/10/2023 20:49

Hahahah, just spotted something in the RNS. Cash is “£0.1m”. Well, thank goodness for rounding !!! Look at the cash flow statement and cash is actually £54,000. But, thanks to the joy of rounding that can be announced as £0.1m !!!!

So, cash is actually half what I thought it was. And losing £289,000 in 1H with a cash outflow of £235,000, er, £54,000 will last about 5-6 weeks.

And that was at June 30th. So….will be gone by now

[graham1ty] 11/10/2023 20:43

A deal with Iran will have disappeared……..

[z1co] 02/10/2023 08:09

Westminster Group PLC (AIM:WSG) said it was "well ahead" of budget in the first half of the year as its West African airport operations and training business both run at record levels.

[deanowls] 29/9/2023 08:40

Really. Looks more dangerous. 2.2m revenue from Africa and as the trade debtor book has grown over 4 million there has to be a large amount here. Sure they said that the airlines were billed directly? I would hope they have bank gaurentees they can e cash.

Record half from Africa, true but not blowing the lights out at +5 %.

As always contracts in finalization, three months to year end so running out of time, start up costs to be funded and actual cash will not get paid this year looking at the current set up.

[z1co] 29/9/2023 08:11

The shares could easily multi bag on a contract news alone from these oversold levels

[this_is_me] 29/9/2023 07:31

Doing a good job at the Tower of London and at the Queen's funeral has resulted in a contract for the Royal Palaces. This will make it easier to sell guarding services in the future.

Still a 10 bag or bust investment. The bust is starting to look a bit less likely.

[graham1ty] 29/9/2023 07:29

At 30 June they had cash of £0.1m and an unutilised overdraft of £0.4m. They must have drawn down on that by now. But secured against what ? And not exactly a vast amount of headroom.

So very odd that not the slightest whiff of a fundraising. With continued losses, an overdraft of £0.4m does not keep you going for long.

Lastly, they announced that they are pleased that trade debtors were up to £4.8m. But, hang on, revenue was only £3.5m. Let us assume UK payers ( for the guarding business) pay on time. So that means someone else is NOT paying up in a timely manner and some must be 9 months in arrears ( taking a guess at £4.8m over £3m non UK revenue).

[z1co] 29/9/2023 06:48

Hi loaf

Much improved results H2 will be very strong again;

Our business is traditionally H2 weighted, and we believe that will continue to be the case this year, accordingly we look forward to delivering continued growth and improvements over the remainder of 2023 building on our 2022 results

[loafofbread] 29/9/2023 06:42

Quite a positive read.

[z1co] 29/9/2023 06:31

Lots to look forward in Q4

In addition, we are close to finalising one or two other such sizeable Managed Services prospects and whilst timing is notoriously difficult to call when dealing with government organisations, we could deliver on one of these near-term opportunities at any time.

Our settlement negotiations with Scanport regarding early termination of the Ghana Port operation appears to be nearing a conclusion and we are hopeful of receiving a cash payment before the end of the year.

[z1co] 29/9/2023 06:21

Like last year H2 will be much stronger than H1;

H1 has seen a significant improvement in EBITDA loss to GBP98k (H1 2022: loss GBP648k), well ahead of budget for the half year. This is also despite an exceptional GBP234k impact from exchange rate losses.

[threeputt] 28/9/2023 18:05

Graham, they have an overdraft facility with Clydesdale Bank from recollection, I've never been able to easily find out what the limit/terms are, I suggest they are running off this facility

[beeks of arabia] 25/9/2023 19:17

I see the foreskin is back ramping on his other thread. How embarrassing, these were apparently cheap at 1.6p!

[drmaccers] 25/9/2023 14:52

Interims Friday. Probs show a profit

[z1co] 25/9/2023 14:45

Maximum online buying being restricted to only 375,000 @ 1.397p