(MENAFN- GlobeNewsWire - Nasdaq)
21 September 2020 G4S plc
Continued resilient performance for the first eight months of 2020
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. 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.
For further enquiries, please contact:
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| Helen Parris | Director of Investor Relations | +44 (0) 207 9633189 |
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| Media enquiries: | | |
| Sophie McMillan | Head of Media | +44 (0) 759 5523483 |
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| Press office | | +44 (0) 207 9633333 |
Media Advisers
Brunswick
Notes to Editors:
G4S is the leading global 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 our markets.
G4S is quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S is active in around 85 countries and has 533,000 employees. For more information on G4S, visit [To enable links contact MENAFN] .
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