G4S reports on Full Year financial results for 12 months to 31 December 2018
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.”