Mar 8, 2017
G4S seeks to lose its ‘outsourcer’ tag
Yes, it seems G4S has managed to pull off another unlikely feat: it found a bad day to bury good news. Good news now emanates from revenue figures, up 6 per cent at constant exchange rates, and from earnings, up 17 per cent. Operating cash flow improved 61 per cent last year but G4S says there is scope for further gains. By withdrawing from reputationally damning activities, G4S has reduced UK central government work to 5 per cent of global sales. Some of which may explain his emphasis on annuity business in Wednesday's results, and his hiring of a new mergers and acquisitions director from Goldman Sachs last week.
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