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Westminster cuts its losses
Security firm Westminster Group has revealed it has managed to cut its losses significantly in the first half of the year.
The Banbury-based company, which supplies sophisticated electronic systems to clients around the world, made a pre-tax loss of £327,000 for the six months to June 30, compared to £2.055m for the same period last year.
Revenues grew by 220 per cent to £5.72m boosted by recent contract wins in West Africa.
Chief executive Peter Fowler said: “2012 has so far represented a quantum leap for Westminster both strategically and financially. These results demonstrate the continued momentum in the business that has been building over recent years.”