16th Apr 2019 09:05
LONDON (Alliance News) - G4S PLC on Tuesday said its revenue for the first quarter surged on the prior year after the company recorded growth in all divisions.
For the three months ended March 31, the FTSE 250 security company said revenue increased 4.8% compared to the same period a year ago.
Secure Solutions revenue was 4.9% higher with strong growth in Africa, up 9.3%, and in the Americas, 8.5%. Revenue in Asia grew 3.4% and the firm's Europe & Middle East region returned to growth with revenues up 1.1%.
Cash Solutions revenue increased by 4.4%, with G4S's "market leading" North America Retail Cash Solutions business growing revenues by over 30%.
"Our sales wins in the second half of 2018 provided a good start to 2019 and the group's revenues were 4.8% higher than the first quarter of last year, with growth in all regions and divisions," Chief Executive Officer Ashley Almanza said.
"This momentum, together with growing technology-enabled services in both our cash and security businesses, underpins a positive outlook for the group," he added.
G4S shares were trading up 1.6% at 233.60 pence each early Tuesday morning.
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