G4S: nine-month revenue down just 2%
(CercleFinance.com) - British security group G4S said its revenues in the first nine months of 2020 fell just 2%.
As this drop in sales was more than offset by tight cost control and reduced interest costs, the firm's underlying earnings remained ahead of the prior year for the first nine months of 2020, G4S said.
In its trading update, G4S also said that it has retained and won new contracts representing annual revenue of 2 billion pounds, including the recently announced ten-year, 30 million pound per year contract to deliver custody and rehabilitation services for a new UK prison to be named "HMP Five Wells".
The shares were up slightly (+0.1%) on the London Stock Exchange after all these announcements.
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As this drop in sales was more than offset by tight cost control and reduced interest costs, the firm's underlying earnings remained ahead of the prior year for the first nine months of 2020, G4S said.
In its trading update, G4S also said that it has retained and won new contracts representing annual revenue of 2 billion pounds, including the recently announced ten-year, 30 million pound per year contract to deliver custody and rehabilitation services for a new UK prison to be named "HMP Five Wells".
The shares were up slightly (+0.1%) on the London Stock Exchange after all these announcements.
Copyright (c) 2020 CercleFinance.com. All rights reserved.