G4S on track for marginal improvement in 2018
Security firm G4S enjoyed organic revenue growth of 2.5 per cent in the third quarter of 2018.
This is up from a 0.2 per cent increase witnessed in the first half of the year, resulting in growth of 1.1 per cent between January and the end of September.
Security revenues grew organically by 3.4 per cent in the first nine months of 2018, but this was partially offset by lower revenues in care and justice services, leveling out overall growth in Secure Solutions to 2.5 per cent.
In terms of regions, security revenue as growth in the UK and Middle East was partially offset by lower revenues in the Benelux countries, reflecting self-constrained bidding in tight labour markets.
North America led the way for security revenue growth though, up 6.5 per cent, thanks to a combination of manned security and technology-enabled security solutions continuing to generate a very positive response in the market.
G4S CEO Ashley Almanza said: “We continue to exercise commercial discipline in markets where labour supply is tight and whilst this is expected to constrain revenue growth in 2018, our new contract wins and substantial, high quality pipeline provide good momentum into 2019.”
The group will announce its full-year results for 2018 on March 12th 2019.