10 August 2017 | Herpreet Kaur Grewal
Support services group G4S has reported a revenue growth across all regions except Middle East & India in its half year financial statement.
The group reported that revenue had increased by 6.2 per cent.
In Europe, its "sustained investment in sales and business development and new solutions continued to produce results" and revenues rose by 4.1 per cent supported by growth in cash solutions, manned security, security systems and integrated solutions.
The group succeeded in winning new security contracts for aviation and retail customers, electronic monitoring equipment in France, systems security for infrastructure and cash management. It states that its European pipeline has "a large number of opportunities across a diversified range of customer segments".
G4S's chief executive officer, Ashley Almanza said: "In the first half of 2017 our continuing businesses delivered revenue growth of 6.2 per cent and earnings growth of 7.6 per cent.
"We continue to invest in strengthening our sales operations and in new products and services for our customers and these investments have materially improved our sales pipeline which supports our medium term aim of growing revenues by an average of around 4-6 per cent per annum.
"Our well established productivity programme provides increased confidence in the Group's ability to deliver recurring operating and financing efficiencies of £90 million to £100 million by 2020. We believe that this combination of investment, growth and productivity will deliver strong growth in the Group?s earnings and operating cash flow."