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27 May 2019
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Graph © iStock
Contract wins worth £1.4bn boost G4S's full-year results © iStock

13 March 2019 | Herpreet Kaur Grewal 

G4S has announced its full year results for the 12 months ended 31 December 2018 showing that revenues generally were up by 1.1 per cent.

It also announced new contract wins of £1.4 billion (annual contract value). 

Its Secure Solutions division’s revenues grew by 3.1 per cent.

G4S CEO Ashley Almanza said: “Our Secure Solutions business delivered underlying revenue growth of 3 per cent and profit margins rose from 6.2 per cent to 6.5 per cent reflecting the benefits of commercial discipline, growth in the sale of technology-enabled security and productivity gains. 

“As expected, this was offset by the effect of challenging trading conditions in a number of Cash Solutions markets and a strong comparative performance in Retail Cash Solutions in 2017. Overall, the group delivered underlying earnings in line with the previous year.”

Almanza added: “Our sales wins in the second half of 2018 have underpinned a good start to the year and this, together with growing technology-enabled services in both our cash and security businesses, supports a positive outlook for 2019”.