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.”

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