G4S: results below expectations, share dives
(CercleFinance.com) - On Wednesday, G4S, the world's leading security company, has unveiled FY 2019 results that are slightly below expectations.
For the past year, G4S - which provides outsourced security and surveillance services - reported revenues that are up 4.7% at 7.7 billion pounds.
Its organic growth reached 4.2%, driven in particular by its cash management activities intended for retailers.
Its profit before tax, interest and amortization (PBITA) nevertheless remained flat y-o-y, at 501 million pounds, stability that the group explains due to the ramp-up of its investments.
CEO Ashley Almanza, also spoke of clear short-term uncertainty regarding the impact of the coronavirus on economic activity, even though he specified that its effect has, until now, been "insignificant" for the group.
The G4S share is currently diving - down over 23%, while the London Stock Exchange is up 0.8%. With today's fall, the share has now lost over a third of its value over the past five days.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
For the past year, G4S - which provides outsourced security and surveillance services - reported revenues that are up 4.7% at 7.7 billion pounds.
Its organic growth reached 4.2%, driven in particular by its cash management activities intended for retailers.
Its profit before tax, interest and amortization (PBITA) nevertheless remained flat y-o-y, at 501 million pounds, stability that the group explains due to the ramp-up of its investments.
CEO Ashley Almanza, also spoke of clear short-term uncertainty regarding the impact of the coronavirus on economic activity, even though he specified that its effect has, until now, been "insignificant" for the group.
The G4S share is currently diving - down over 23%, while the London Stock Exchange is up 0.8%. With today's fall, the share has now lost over a third of its value over the past five days.
Copyright (c) 2020 CercleFinance.com. All rights reserved.