G4S: shares tumble after earnings miss
(CercleFinance.com) - Shares in G4S, one of the world's biggest security firms, fell sharply on Thursday after the company reported worse-than-expected half-year earnings.
The company said operating profit (adjusted EBITA) was down 3% at 212 million pounds in the first six months of the year, while sales were slightly up in organic terms (+0.2%).
By comparison, the consensus expected EBITA of 217 million pounds, with organic growth of 0.3%.
G4S - which supplies security guards and other safety services to its clients - said its performance was not helped by "strong" 2017 comparatives.
Looking ahead, the group said contract wins and strong retention rate still provided good revenue momentum, underpining a "positive outlook" for the full year.
Shares in G4S, which have fallen by over 14% over the past 12 months, fell further in reaction to this news, trading 7.3% lower at 261.8 pence, hence valuing the group at around 4.4 billion pounds.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company said operating profit (adjusted EBITA) was down 3% at 212 million pounds in the first six months of the year, while sales were slightly up in organic terms (+0.2%).
By comparison, the consensus expected EBITA of 217 million pounds, with organic growth of 0.3%.
G4S - which supplies security guards and other safety services to its clients - said its performance was not helped by "strong" 2017 comparatives.
Looking ahead, the group said contract wins and strong retention rate still provided good revenue momentum, underpining a "positive outlook" for the full year.
Shares in G4S, which have fallen by over 14% over the past 12 months, fell further in reaction to this news, trading 7.3% lower at 261.8 pence, hence valuing the group at around 4.4 billion pounds.
Copyright (c) 2018 CercleFinance.com. All rights reserved.