The focus on defence budgets as Europe positions itself as peacekeeper-in-chief in Ukraine has been a boon for military hardware and systems stocks such as BAE Systems, up 39 per cent so far this year.
It also seems to have sparked a trickle-down effect, with investors hunting for bargains further down the defence supply chain. One example is Westminster Group, mentioned in last week’s column.
It’s no BAE Systems—far from it. But it is benefiting from the same global demand for tighter security.
The catalyst was a 15-year contract to guard airports in Gabon, which sent its shares up 9 per cent, building on gains the previous week. The deal is expected to generate $5.5million in its first year.
Westminster said it will invest in upgraded security infrastructure, including advanced detection, surveillance, and screening equipment, while also providing maintenance, training, and support services to ensure compliance with international standards.
Turning to the wider market, the AIM All-Share slumped 1.8 per cent as investors shied away from risk. The FTSE 100, by contrast, dipped 2.0 per cent, shaken by Donald Trump’s trade war threats.
Deal: Security firm Westminster Group has won a 15-year contract to guard airports in Gabon
It was a rough week for Team Internet, which plunged 43 per cent after would-be buyer Verdane confirmed it would not be making a formal bid.
That leaves Team Internet exploring ways to boost shareholder value, including optimising capital allocation and reviewing its asset ownership.
Elsewhere, Vela Technologies (down 46 per cent), Premier African Minerals (off 36 per cent), and Petrel Resources (40 per cent lower) tumbled after issuing heavily discounted shares to raise funds.
Having a far better week was Kenmare Resources, surging 41 per cent after rejecting a takeover proposal from a consortium led by Oryx Global Partners and former managing director Michael Carvill. The bid, pitched at 530p per share, was dismissed as failing to reflect the company’s true value.
CMO Group, whose shares collapsed last week after announcing plans to delist from the junior market, showed signs of life with a 14 per cent rebound.
Galliford Try rose 7 per cent after the construction group raised its full-year guidance, citing strong first-half results and robust trading momentum.
In response to the results, Peel Hunt upgraded its 2025 profit estimate to £40.5million from £37million.
It rates the shares a ‘buy’ up to 475p, calling them ‘excellent value’ at current levels. Panmure Liberum increased its price target by 50p to 480p, while Cavendish simply called the numbers ‘strong’.
One to watch is ALT Resources, which is shifting its listing to AIM as it acquires a cash-generating gold royalty from Theta Gold Mines.
The move, expected on March 24, will give ALTR exposure to gold revenues without the risks of direct mining.
Chaired by growth-company veteran Paul Welch, ALTR says AIM will provide greater flexibility for deals as it expands in the mining royalty sector.
Finally, Shield Therapeutics has enjoyed a strong start to 2025, with shares up 28 per cent so far. The company has developed a prescription medicine for people with low iron stores.
Commercially, Shield is gaining steam. It generated revenues of $32.2million last year—up more than 150 per cent on 2023—and is on track for $54million in sales this year.
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