Security firm G4S reports results this week
Security firm G4S will be reporting its 2016 full year results on Wednesday, the same day as the budget.
This week’s numbers will spotlight the extent to which the group’s chief exec, Ashley Almanza has been successful in turning around the beleaguered company.
Investors will be keen to see what progress the company has made since its last set of results in August.
When the firm reported its half year earnings in August last year, shares in the security specialist shot up by as much as 17 per cent after the company reported an uptick in earnings and revenue for the six months to 30 June.
An average of Bloomberg, Reuters and Factset consensus forecasts indicate revenues for 2016 of £6.8bn, profits before income tax and amortisation (PBITA) of £441m, and earnings per share (EPS) of 15.3p.
At its half year results G4S said revenues increased to £3.53bn from £3.42bn, profit before tax rose to £115m from £80m for the period last year, and earnings per share lept up to 4.5p from 2.7p.
In August, Almanza, said: “Our plans are delivering tangible results. We have much to do to realise the full potential of our strategy which is underpinned by our growth, innovation, productivity and portfolio programmes. Executing these programmes and reducing net debt remain our key priorities.”
G4S saw its reputation take a battering previously after it was found to have overcharged the UK government by tagging criminals who were dead, in prison or never tagged in the first place. It agreed to repay £108.9m to the government and had a nine-month ban on winning new government work lifted.