WSG

Westminster Group PLC

Industrial Goods and Services First-pass screen £0.00m

370/1000 Overall fit

AI beneficiary 35% 20

Operating leverage 25% 45

Valuation 25% 45

Downside protection 15% 48

First-pass take

Security services provider pivoting to recurring-revenue model. Positives: 60% gross margin, signed £10m pa DRC contract (not yet realized), growing Services division. Negatives: unprofitable (£1.9m loss on £9.1m revenue), annualized revenue declining, net debt £1.1m, acute execution risk on contract ramp, zero AI exposure.

Flags

loss-makingmicro-capexecution-heavyemerging-marketsnet-debtrevenue-decline