G4S: first-half profit and revenue fall

(CercleFinance.com) - Security company G4S has posted a 5% drop in first-half profit, and said that it will not pay an interim dividend for 2020, as the economic impact of the Covid-19 pandemic still remains "uncertain.
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The UK-Danish company - which operates in around 85 countries and has around 533,000 employees - said profit before interest, tax and amortisation (PBITA) fell to 187 million pounds in the six months ended 30 June, from 196 million pounds one year earlier.

G4S - which recently sold its conventional cash business to Brink's - said revenue for the first half fell 1.5% to 3.35 billion pounds, adversely impacted by the Covid-19 pandemic, particularly in Europe.

G4S said it intends to resume dividend payments once the uncertainty surrounding the pandemic has reduced to "an acceptable level."

G4S shares - which have fallen by 36% year-to-date - were up 6% on Thursday, valuing the business at 2.1 billion pounds.

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