G4S to present at investor conferences02 November 2016
G4S, the leading global integrated security company, will be presenting at various investor conferences in November and the Group therefore provides this update for the nine months ended 30 September 2016. All figures and commentary are stated at constant exchange rates.
Since the start of the year the Group has won new contracts with annual revenues of £1 billion and total contract value of £2 billion.
Revenues from continuing operations in the first nine months of 2016 were £4,821 million, up by 5.7% compared with the same period last year.
The combination of the group's organic growth and productivity programmes has produced double-digit growth in earnings and operating cash flow.
The Group remains on track with its plans to reduce leverage to 2.5x ND/EBITDA by the end of 2017; operating cash flows from continuing operations have increased by more than 60% year-on-year for the first nine months, and the Group is making good progress with its portfolio programme.
Following strong investment performance in the G4S pension scheme, the G4S pension trustees have agreed a reduced annual pension deficit payment of £39 million in 2016, with a 3% per annum increase until the next funding valuation.
G4S Chief Executive Officer Ashley Almanza commented: "The Group's strategy is delivering tangible benefits which are reflected in our operating and financial performance. The strong progress made in the first half has been sustained and for the first nine months the Group has delivered revenue growth of 5.7% and double-digit growth in earnings and operating cash flow. We still have a long way to go to realise the full potential of our strategy and we are encouraged by the Group's progress and prospects."
Full year results
Results for the twelve months to 31 December 2016 will be published on 8 March 2017.
G4S is the leading global, integrated security company, specialising in the provision of security services and solutions to customers. Our mission is to create material, sustainable value for our customers and shareholders by being the supply partner of choice in all of our markets.
G4S is quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S is active in over 100 countries and has 610,000 employees. For more information on G4S, visit www.g4s.com.