The multi-national security services contractor G4S’ revenues have remained resilient through the first eight months of the year, according to the firm’s trading update.
G4S Group Chief Executive Officer, Ashley Almanza said: “G4S today is a focused global business delivering technology-enabled security solutions. The benefits of our strategy, strong execution and timely response to Covid-19 continue to be reflected in the Group’s results during 2020 with resilient revenue, earnings and cash flow.”
The firm has confirmed that on September 1 it received an unsolicited takeover proposal from BC Partners and guarding contractor GardaWorld, offering 190 pence per G4S share.
G4S said that although the global economic outlook remains uncertain, its Secure Solutions revenues, which account for 93pc of Group revenues, were broadly in line with 2019. Group revenues were 1.9pc lower overall and this was the firm adds more than offset by tight direct and indirect cost control and reduced interest costs. The firm said its underlying earnings which were in line with 2019 at the six months stage.
