Full year results for 2016 at G4S highlight new contracts with an annual value of £1.3 billion and a total contract value of £2.5 billion. The global integrated security firm also replenished and grew its pipeline which had an annual value of £6.8 billion as at 31 December 2016.
“Our continuing businesses delivered revenue growth of 6.3% and earnings growth of 16.6%,” explained Ashley Almanza, CEO at G4S. “We now have much stronger foundations, growing competitive capabilities and an attractive array of market opportunities. Our transformation strategy is expected to produce further performance improvements and underpins our aim of delivering sustainable and profitable growth.”
Contract retention rates have been sustained around the 90% level. The business has continued to witness the benefit of investing in both product and service development.
“Our technology, software and systems revenues grew strongly and now account for 13% of Group revenues,” stated Almanza. “In our Secure Solutions business, technology-enabled services and solutions now contribute over £1.5 billion in annual revenues.”
In Cash Solutions, G4S grew revenues by 19% with a particularly strong performance from its Retail Cash Solutions and Deposita businesses. “We have a strong and diverse pipeline of growth opportunities in both businesses.”