26th May 2016 07:34
LONDON (Alliance News) - Security services company Westminster Group PLC on Thursday said it has received a letter of intent from an unnamed Middle East airport authority for a long-term airport security contract.
Westminster said the deal would generate GBP30.0 million in revenue per year based on current throughput volumes and the anticipated fee per passenger.
"While there can be no certainty as to the timing or final outcome of contract discussions, the receipt of this letter of intent is an encouraging step and demonstrates the progress that we have made to date. This, and progress on other long term contract discussions, gives us confidence that our strategy will deliver more positive results in the future," said Westminster Chief Executive Peter Fowler.
Westminster shares were up 77% to 9.74 pence early Thursday, the best performer in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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