Westminster Group sees H1 revenue rise despite Covid-19 impacts

Managed services supplier Westminster Group said it expected to report higher first-half revenues after a strong start to the fiscal year.

Westminster on Monday it expected to announce an increase of around 24% in first-half revenues to roughly £7m, helping it to deliver a "much-improved" financial performance and a pre and post-tax profit.

The AIM-listed group highlighted that revenues had continued to grow despite the impact of Covid-19 on parts of its business.

Chief executive Peter Fowler said: "Whilst the Covid-19 pandemic continues to create uncertainty for businesses around the world our business model and multiple revenue streams from diverse sources and regions worldwide does provide Westminster with both opportunities and a degree of resilience.

"These are exciting times for Westminster, and over the next few months and years, we have an opportunity to achieve unprecedented growth from the prospects we are pursuing, and the board and I remain committed to delivering on this potential."

As of 0915 BST, Westminster shares were up 3.54% at 9.94p.