Tuesday 20 February 2018

Security van firm G4S off to positive start to 2016

A G4s Cash Guard
A G4s Cash Guard

Paul Sandle

Security firm G4S said it had made a positive start to its financial year, with revenue from its continuing businesses up 4.5pc in its first quarter and no new impairments on its portfolio of loss-making government contracts.

"Against a backdrop of macro-economic uncertainty, the group had a positive start to year," chief executive Ashley Almanza said in a statement on Monday.

The world's largest security firm said it won new contracts with annual revenues of £450m in the three months to end-March, while profit before interest, tax and amortisation excluding restructuring charges rose 6.5pc.

Shares in G4S fell more than 12pc to seven-year lows in March when it took an extra £65m charge on loss-making British government contracts. The stock has made little progress since, and it closed at 184p on Friday.

Reuters

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