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UPDATE 1-UK's G4S sees bright outlook and further investment on cost-cutting

Thu, 08th Mar 2018 07:44

EDINBURGH, March 8 (Reuters) - The world's largest securitygroup G4S said its gains from a cost savings drive wouldgo towards boosting its technological capabilities, giving it"substantial confidence" in its medium-term outlook.

G4S, which provides outsourced services such as guarding,security and cash management, said full-year revenue was 7.43billion pounds ($597.36 million), below analyst expectations for7.55 billion pounds, but within in a lower range it had aforecast late last year of between 3 and 4 percent growth.

Profit rose 5.7 percent to 277 million pounds.

Leaner processing and better organisation would achieverecurring operating gains of 70 million to 80 million pounds by2020, it said. Along with refinancing gains of around 20 millionpounds, that would mean it could re-invest in growth and boostprofit.

Growth in technology-enabled revenues and good cashgeneration, as well as better productivity, gave the group"substantial confidence" for the next three years, with a goalof raising core revenues by an average of 4 to 6 percentannually.

Overall, strong growth in developed markets was partiallyoffset by the effect of weak trading in the Middle East andIndia region, which was expected to stabilise during 2018.

G4S provides outsourced services such as providing guardsand security, including the supply, installation and monitoringof alarm systems, as well as managing sensitive care and justiceservices.

The stock has managed to buck some of the trend in itssector, where sentiment has been soured by the collapse ofbuilding and outsourcing firm Carillion in January. That led toa political backlash about huge and sensitive contracts awardedby public departments to private companies.

G4S shares are flat so far this year versus a 6 percentdecline in London's FTSE 100 share index.($1 = 0.7198 pounds)(Reporting by Elisabeth O'Leary; editing by Kate Holton)

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24 Jul 2020 13:59

Friday broker round-up

(Sharecast News) - Unilever: Barclays upgrades to overweight with a target price of 5,470.0p.

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24 Jul 2020 09:38

UK BROKER RATINGS SUMMARY: Barclays Raises Phoenix And Cuts M&G

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23 Jul 2020 11:23

G4S Suspends Payout To Save Cash; Profit Rises On Disposal Gains

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23 Jul 2020 10:54

G4S beats H1 estimates, sees more demand for thermal cameras, screening staff

(Sharecast News) - Security contractor G4S said on Thursday that it had beaten first-half profit forecasts and expects to see an increased demand for thermal cameras and screening personnel as the globe looks to adapt to a "new normal" in the post-coronavirus-related lockdown world.

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23 Jul 2020 09:47

UK BROKER RATINGS SUMMARY: Credit Suisse Raises Lloyds, Cuts NatWest

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23 Jul 2020 09:43

UPDATE 2-Earnings boost keeps UK stocks barely above red as virus concerns rage

* Unilever hits over 5-month high as sales fall less than feared* G4S gains on beating first-half operating profit estimates* Weak Wall St, U.S. jobs data spurs late-session losses (Updates to close)By Sagarika Jaisinghani and Ambar WarrickJuly 23 ...

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23 Jul 2020 07:35

UPDATE 2-G4S profits beat, lockdown easing boosts security demand

* H1 profit of 187 mln pounds* Dividend still on hold* JPM says strong results in context of crisis* Shares up 6% (Adds shares, analyst comment, detail on outlook)By Yadarisa ShabongJuly 23 (Reuters) - Security contractor G4S Plc beat first-half pr...

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23 Jul 2020 07:35

UPDATE 1-Security contractor G4S beats profit estimates, dividends still on hold

(Adds more detail on results, background)July 23 (Reuters) - Security contractor G4S Plc on Thursday reported first-half operating profit that beat market expectations, getting a boost from a solid performance in its core security business, but sa...

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