G4S’s share price flies on revenue and pipeline news
G4S's share price leapt over nine per cent today after revealing strong revenue growth in the first nine months of the year.
Revenues grew by 5.7 per cent to £4.8bn compared to the previous year and the company confirmed that it had secured new contracts worth £1bn since January.
Read more: By boycotting big business, Labour has cut off its nose to spite its face
[stockChart code="GFS" date="2016-11-02 12:16"]
"The group's strategy is delivering tangible benefits which are reflected in our operating and financial performance. The strong progress made in the first half has been sustained and for the first nine months the group has delivered…double-digit growth in earnings and operating cash flow, said chief exec Ashley Almanza
Nevertheless, despite the financial performance – which included cash generation from operations leaping by 60 per cent – Almanza was not getting carried away.
We still have a long way to go to realise the full potential of our strategy and we are encouraged by the Group's progress and prospects.
Read more: G4S rejects Labour's last-ditch conference pleas
Positive operations in the US were central to the growth in the Crawley-based group.
"Growth in the United States has accelerated from the first half, although Britain has remained flat," a company spokesperson said.