As part of our ongoing commitment to maintain transparent disclosure to the market during the continuing global pandemic, G4S provides the following update for the eight months ended 31 August 2020.
Continued resilient performance for the first eight months of 2020
Unless stated otherwise, all figures and commentary relate to underlying results, are unaudited and stated at August 2020 exchange rates. All comparisons are with the first eight months of 2019 unless otherwise stated and are presented on a pro-forma basis that excludes all conventional cash businesses sold to The Brink’s Corporation on 26 February 2020.
Following a strong performance in the first half of 2020, the Group’s revenues have remained resilient through the first eight months of the year. Secure Solutions revenues, which account for 93% of Group revenues, were broadly in line with 2019. Group revenues were just 1.9% lower overall and this was more than offset by tight direct and indirect cost control and reduced interest costs, the latter reflecting both refinancing benefits and the Group’s improving net debt position. As a result, the Group’s underlying earnings which were in line with 2019 at the six months stage are now ahead of the prior year for the first eight months of 2020. Although the global economic outlook remains uncertain, the Group’s performance in the first eight months demonstrates the strength of the business.
Commenting on the first eight months trading, G4S Group Chief Executive Officer, Ashley Almanza said: “G4S today is a focused global business delivering technology-enabled security solutions. The benefits of our strategy, strong execution and timely response to Covid-19 continue to be reflected in the Group’s results during 2020 with resilient revenue, earnings and cash flow".
Following a strong performance in the first half of 2020, the Group’s revenues have remained resilient through the first eight months of the year. Secure Solutions revenues, which account for 93% of Group revenues, were broadly in line with 2019. Group revenues were just 1.9% lower overall and this was more than offset by tight direct and indirect cost control and reduced interest costs, the latter reflecting both refinancing benefits and the Group’s improving net debt position. As a result, the Group’s underlying earnings which were in line with 2019 at the six months stage are now ahead of the prior year for the first eight months of 2020. Although the global economic outlook remains uncertain, the Group’s performance in the first eight months demonstrates the strength of the business.
Commenting on the first eight months trading, G4S Group Chief Executive Officer, Ashley Almanza said: “G4S today is a focused global business delivering technology-enabled security solutions. The benefits of our strategy, strong execution and timely response to Covid-19 continue to be reflected in the Group’s results during 2020 with resilient revenue, earnings and cash flow".