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Morning Report: Another record year for revenues at Westminster Group

Headlines from the Proactive UK newsroom.

Westminster (LON:WSG) says 2019 was another record year for revenues, with the turnover rising 63% year on year to £10.9mln. The security group also expects to report a greatly improved underlying profit performance compared to 2018.

Frontier IP (LON:FIPP) portfolio company Exscientia has made the first AI-created drug to enter clinical trials in a joint development with Sumitomo Dainippon Pharma.  A phase I clinical study of the drug candidate DSP-1181, designed to treat obsessive-compulsive disorder as an initial indication, has started in Japan. 

Pan African Resources (LON:PAF) has more than doubled earnings in the six months to December. The South African gold miner will report a 124% rise at the bottom end.

Britain formally leaves the European Union at 11pm today as part of the Brexit process. It is the first time in history a member state has left the economic and political union.

Canadian billionaire and F1 backer Lawrence Stroll is leading a consortium of financial heavyweights in a bail-out of Aston Martin (LON:AML). The luxury car group is raising £500mln through share issues with Stroll also providing a £55.5mln short-term loan.

Ad agency M&C Saatchi is facing a regulatory enquiry into the circumstances surrounding its £11.6mln black hole in its accounts revealed in December.  A clutch of directors including founder Lord Saatchi resigned following the disclosure. 

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