Interim Management Statement
G4S, the international security solutions group, will be updating analysts and investors today on trading for the year to date, including an overview of financial performance to 31 March 2010.
In the first quarter of 2010 overall revenues grew 4%, at constant exchange rates, compared to the same period last year, and grew 2.1% at actual exchange rates. The group operating margin was unchanged.
Management will be indicating that there have been no material changes in trading performance, financial position or market conditions across the various G4S businesses since the 2009 year end, the results of which were announced in March.
An overview of the financial performance for the three months to 31 March 2010 is as follows:
Overall organic growth was 2%. New Markets grew more than 7% and developed markets were flat.
- In secure solutions, organic growth was 2.5% as a strong performance in government and New Markets was partly offset by lower growth overall in Europe and North America commercial services.
- Cash solutions organic growth was flat with good underlying growth in New Markets being offset by a slight decline in developed markets
Overall margins held up (on both a constant and actual exchange rate basis) compared to the same period last year.
- Secure solutions margins were slightly higher helped by the UK and New Markets
- In cash solutions, the business has adjusted well to the current low interest rate environment
The group has performed robustly in the first quarter, in a market which continues to be challenging. Against this market backdrop, we are confident the international diversity of our business mix, strength of our management teams and enhanced ability to deliver innovative, outsourced customer solutions will enable the group to maintain its momentum.
Capital Markets Day
On 18 May, G4S will be holding a Capital Markets Day in London for analysts and investors
AGM & Dividend
The AGM will take place on 28 May 2010 and the final dividend of 4.16 pence (DKK 0.3408) per share is proposed for payment on 4 June 2010.
Results for the six months to 30 June 2010 will be published on 26 August 2010.