G4S has announced its Full Year results for the 12 months ended 31 December 2018. New contract wins total £1.4 billion (annual contract value), with Secure Solutions revenues growing by 3.1%. Cash Solutions revenues (excluding Retail Cash Solutions) rose by 0.5%. Operating cash flow conversion stands at 95.6% (2017: 106.6%).
G4S’ CEO Ashley Almanza said: “Our Secure Solutions business delivered underlying revenue growth of 3% and profit margins rose from 6.2% to 6.5% reflecting the benefits of commercial discipline, growth in the sale of technology-enabled security and productivity gains. As expected, this was offset by the effects of challenging trading conditions in a number of Cash Solutions markets and a strong comparative performance in Retail Cash Solutions in 2017. The Group delivered underlying earnings in line with the previous year.”
Almanza went on to state: “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.”