18th Mar 2020 13:49
(Alliance News) - Westminster Group PLC on Wednesday said it expects travel restrictions imposed by governments to hurt revenues from its West African Airport operations.
Shares in the security services provider were up 8.2% at 6.22 pence in afternoon trading in London.
On Monday, Westminster Group said the coronavirus outbreak had resulted in only a minor disruption to its activities and travel, adding that its West African airport operations had not been hurt.
However, on Wednesday it said that government announcements restricting and cancelling flights would have "an inevitable impact" on its revenue.
Nonetheless, the Banbury-based company said revenue from other parts of its business would help to mitigate potential reduction in revenue from its aviation security business. It said sales of its fever detection and associated equipment had approached USD1 million in the last 48 hours. It also added that revenue from its port operations in Ghana have not been hurt.
By Ife Taiwo; [email protected]
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