G4S revenues jump almost 9%, boosting shares

Listen to this article

00:00
00:00

This is an experimental feature. Give us your feedback. Thank you for your feedback.

What do you think?

The world’s biggest security company appears to be more secure, sending its shares to the top of the FTSE250 index with a near 4 per cent climb.

London-listed G4S, which provides technology to the Pentagon as well as guards for sports events and offices, said today that revenues in the first quarter of this year were 8.9 per cent higher than in the same period in 2016.

The brighter tone is a break from the scandals and difficulties at the company that still reverberated until last year.

Today, it says the strong start to 2017 was “in line” with expectations, with CEO Ashley Alamanza saying it represents “momentum”.

The company said:

Trends continued from 2016, with double-digit organic growth in developed markets and revenues broadly unchanged in emerging markets. New contract wins and the pipeline provide confidence in the Group’s expectation of average revenue growth in the range of 4-6% per annum.

As part of the established portfolio programme, the Group realised $56.5 million in the quarter from the sale of the Youth Services business in the United States.

At pixel time, the shares were up by 3.9 per cent at 327p.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.