G4S has just issued its latest set of financial results covering the whole of 2015. New contract sales with a total value of £2.4 billion (annual value £1.3 billion) have been recorded, so too contract retention rates of circa 90%. Group revenues are exhibiting a rise of 4%.
CEO Ashley Almanza said: “The portfolio management programme combined with our investment in sales, innovation and restructuring is reflected in the results of our continuing operations, where the Group’s revenues rose by 4% and underlying earnings by 14%. These programmes remain a priority, and are expected to sustain our growth and strengthen the balance sheet.”
In addition, Almanza explained to The Paper: “We continue to actively manage our onerous legacy contracts in the UK which were entered into prior to 2013. We have had to increase the provisions in relation to these contracts. We’ve also established robust controls governing new major contracts.”