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G4S Plc FY18 Pretax Profit Declines; Underlying Revenue Up 1.1% - Quick Facts

G4S plc (GFSZY.PK,GFS.L) reported profit before tax of 143 million pounds for the year ended 31 December 2018, compared to 387 million pounds, prior year. Earnings per share from continuing operations was 5.2 pence compared to 15.7 pence. The Group noted that its statutory earnings includes 100 million pounds provision for settlement of California class action and 35 million pounds charge for UK guaranteed minimum pension equalisation.

Fiscal year underlying adjusted profit before interest, tax and amortisation was 474 million pounds, in line with the prior year. The Group said this reflects adjusted PBITA growth of 6.9% in Secure Solutions offset by lower revenue and increased business development and operating costs in Cash Solutions. Underlying earnings per share was 16.7 pence, flat with prior year.

For fiscal 2018, revenue was 7.51 billion pounds compared to 7.83 billion pounds, prior year. Underlying revenue increased by 1.1% year-on-year to 7.29 billion pounds. Secure Solutions revenues were 3.1% higher than the prior year. Cash Solutions revenue decreased by 9.3% reflecting the mobilisation of a large Retail Cash Solutions contract in North America in 2017.

G4S CEO Ashley Almanza said: "Our sales wins in the second half of 2018 have underpinned a good start to the year and this, together with growing technology-enabled services in both our cash and security businesses, supports a positive outlook for 2019".

The Board proposed a final dividend of 6.11 pence per share.

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