Mar 8, 2018
G4S is not Carillion — but the City is inconsistent on values
Revenues were up 3 per cent in 2017, in line with forecasts, as chief executive Ashley Almanza continued to refocus the business on fast-growing cash handling work and security technology. UK government contracts now account for just 5 per cent of total revenues, well down on years ago. Earnings per share came in slightly below analysts' expectations but were still up 6 per cent at constant exchange rates. With cash conversion still more than 100 per cent of adjusted earnings, G4S took the ratio from 2.8 to 2.4 times by year end. Dividends are therefore being increased by 5 per cent, in line with a policy of matching growth in earnings.
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