G4S: says performance 'remarkable' in 2020
(CercleFinance.com) - British security firm G4S said on Tuesday that it delivered a "remarkable" operating and financial performance in 2020, citing an "exceptional" commercial performance, with both contract wins and renewals.
In a trading update, the company said revenues were in-line with the trends highlighted in its nine-month report, with operating margins "holding up well."
Without providing specific numbers, cash flow generation was "very strong", the company added, saying it ended the year with net debt to EBITDA well within its target range of 2.0 - 2.5 times.
G4S - which is currently subject to a takeover bid from US rival Allied Universal - said contract wins and renewals represent annual revenue of 3 billion pounds, up from 2.5 billion pounds in 2019.
The shares were up slightly by 0.3% after the statement, giving the company a market cap of over 4 billion pounds.
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