G4S provides the following update for the three months ended 31 March 2017.
G4S PLC Trading Update
All figures and commentary are unaudited and stated at constant exchange rates.
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.
Revenues from the Group’s continuing businesses were 8.9% higher than the first quarter of 2016. 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. The Group’s business plan and current performance continue to support a net debt/EBITDA ratio of 2.5x or lower by the end of 2017.
Results for the six months to 30 June 2017 will be published on 9 August 2017.