24th Jun 2016 12:58
LONDON (Alliance News) - Westminster Group PLC Friday said that it believes the UK's decision to leave the EU will have "little material effect" on its business.
Westminster said that its business and major value creation opportunities are "predominantly focussed" on high growth and emerging markets outside of the Eurozone, such as Africa, the Middle East and Asia.
As much of its current revenues are in US dollars, they more than cover any dollar linked expenditure, and it therefore expects any reduction in the value of sterling will have a positive impact on sterling reported results.
Shares in Westminster were up 3.7% at 12.70 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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