Westminster Group losses swell

23rd Sep 2009 08:02

Security systems provider Westminster said first half losses widened but is confident in the prospects for the full year and beyond. Pre-tax losses swelled to £672,000 for the six months ended 30 June 2009 from £413,000 the year before. First half revenue was up 69% to £2.4m compared with £1.4m. "Westminster has started the second half of this year with a substantial order book of £5.3m. Whilst the Board continues to be very mindful of the current global economic uncertainty it has not seen any material impact on activity levels, which gives us confidence in the prospects for the full year and beyond," said chief executive Peter Fowler.Westminster said its order book rose 23% to £5.3m at 30 June compared with £4.3m the same time a year earlier. The group has £1.1m net cash.The group added that enquiries are running at double last year's rate following the launch of its website back in April.