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Trading statements

G4S maintains momentum

04 May 2017 07:41

G4S has made a strong start to its financial year as it maintained momentum from the end of 2016.

Revenues from the group's continuing businesses were 8.9% higher than the first quarter of 2016.

The group said trends continued from 2016, with double-digit organic growth in developed markets and revenues broadly unchanged in emerging markets.

It said that new contract wins and the pipeline provided 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 $56.5m in the quarter from the sale of the Youth Services business in the United States.

The group said its business plan and current performance continued to support a net debt/EBITDA ratio of 2.5x or lower by the end of 2017.

Chief executive Ashley Almanza said: "In line with our expectations, the group had a strong start to the year, with the momentum from 2016 continuing into the first quarter of 2017."

Story provided by StockMarketWire.com

Related Company: GFS

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