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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  G4S plc    GFS   GB00B01FLG62

G4S PLC

(GFS)
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G4S : Continued resilient trading and contract win performance for the first nine months of 2020

10/14/2020 | 02:10am EST

Unless stated otherwise, all figures and commentary relate to underlying results, are unaudited and stated at average exchange rates for the nine months to end September 2020. All comparisons are with the first nine 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.

Trading performance

The Group's revenues have remained resilient through the first nine months of the year. Secure Solutions revenues, which account for 93% of Group revenues, remain broadly in line with 2019. Group revenues were just 2% 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 remain ahead of the prior year for the first nine months of 2020. Although the global economic outlook remains uncertain, the Group's performance in the first nine months demonstrates the strength of the business.

Contract wins

In the first nine months of 2020, G4S has retained and won new contracts with an annual revenue contract value of £2 billion, including the recently announced ten year, £30 million per annum contract to deliver custody and rehabilitation services at HMP Five Wells in the UK.

Since the end of the third quarter, G4S Retail Cash Solutions has commenced the roll out of our industry leading software-and-service solution to a new customer in the United States, one of the largest big-box retailers in the world. This significant new programme is expected to continue through 2021.

Commenting on the first nine months trading, G4S Group Chief Executive Officer, Ashley Almanza said: 'G4S today is a focused global business delivering integrated security solutions which combine our risk consulting, security, technology and data analytics capabilities. 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.

I would like to thank our customers and employees for their commitment to G4S during these challenging times'.

Download the announcement here

Disclaimer

G4S plc published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 06:09:03 UTC


© Publicnow 2020
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Financials
Sales 2020 6 880 M 9 237 M 9 237 M
Net income 2020 407 M 546 M 546 M
Net Debt 2020 1 463 M 1 964 M 1 964 M
P/E ratio 2020 9,61x
Yield 2020 1,48%
Capitalization 3 849 M 5 185 M 5 167 M
EV / Sales 2020 0,77x
EV / Sales 2021 0,73x
Nbr of Employees 533 000
Free-Float 98,9%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 232,29 GBX
Last Close Price 249,00 GBX
Spread / Highest target 13,7%
Spread / Average Target -6,71%
Spread / Lowest Target -26,5%
EPS Revisions
Managers
NameTitle
Ashley Martin Almanza Chief Executive Officer & Executive Director
John P. Connolly Non-Executive Chairman
Timothy Peter Weller Chief Financial Officer & Executive Director
Steven Lewis Mogford Senior Independent Non-Executive Director
Barbara Rose Milian Thoralfsson Independent Non-Executive Director
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