Security services firm posts 4.2 percent profit rise before interest and taxes.
Growth in emerging markets helped the security services group G4S achieve a year-on-year profit increase of 4.2 percent before interest, taxes and amortisation (PBITA).
Activities in the relatively untapped markets of Latin America, the Middle East and the Caribbean accounted for almost a third of the group’s total profits last year.
Growth of nine percent in emerging markets boosted the group’s overall PBITA to £527 million for the 12 months to the end of 2010.
With revenue growth in the UK likely to be hindered this year by public sector funding cuts, £200 million has been set aside for the purposes of “building businesses in developing markets such as Brazil and China”.
Nick Buckles, G4S’ chief executive, said: “Our short-term revenue growth in the UK will be hit as part of austerity measures but new outsourcing opportunities should arise in the next 12 to 18 months.”
The company said it was bidding for a number of government contracts and had been shortlisted by the Department for Work and Pensions to bid to deliver welfare-to-work services in seven of 11 regions.
The second biggest private-sector employer in the world after US retailer Wal-Mart, G4S's revenues grew 4.1 percent to £7.4 billion and increased the final dividend by 14 percent to 4.73 pence per share.
Source: www.cfoworld.co.uk
Growth in emerging markets helped the security services group G4S achieve a year-on-year profit increase of 4.2 percent before interest, taxes and amortisation (PBITA).
Activities in the relatively untapped markets of Latin America, the Middle East and the Caribbean accounted for almost a third of the group’s total profits last year.
Growth of nine percent in emerging markets boosted the group’s overall PBITA to £527 million for the 12 months to the end of 2010.
With revenue growth in the UK likely to be hindered this year by public sector funding cuts, £200 million has been set aside for the purposes of “building businesses in developing markets such as Brazil and China”.
Nick Buckles, G4S’ chief executive, said: “Our short-term revenue growth in the UK will be hit as part of austerity measures but new outsourcing opportunities should arise in the next 12 to 18 months.”
The company said it was bidding for a number of government contracts and had been shortlisted by the Department for Work and Pensions to bid to deliver welfare-to-work services in seven of 11 regions.
The second biggest private-sector employer in the world after US retailer Wal-Mart, G4S's revenues grew 4.1 percent to £7.4 billion and increased the final dividend by 14 percent to 4.73 pence per share.
Source: www.cfoworld.co.uk
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