14th Oct 2020 09:32
(Alliance News) - G4S PLC on Wednesday said revenue in the first nine months of 2020 has remained resilient and underlying earnings are ahead year-on-year.
Revenue for the year to September-end was 2% lower overall, but this was more than offset by tight direct and indirect cost control and reduced interest costs, the company explained. Secure Solutions revenue, which accounts for 93% of group revenue, remained broadly in line with 2019.
The London-based security services provider said that trading was supported by contract wins and retaining of older ones. In the first nine months of 2020, G4S retained and secured new contracts worth GBP2 billion annually.
G4S Group Chief Executive Officer Ashley Almanza said: "The benefits of our strategy, strong execution and rapid response to Covid-19 continue to be reflected in the group's results during 2020 with resilient revenue, earnings and cash flow."
Shares in G4S were up 0.2% at 210.00 pence each in London on Wednesday morning.
By Tapan Panchal; [email protected]
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