CRAWLEY (dpa-AFX) - G4S plc (GFSZY.PK, GFS.L) reported that its Group revenues for the five months ended 31 May 2020 were 1% lower than a year ago, with revenues in Secure Solutions slightly ahead and a 16% decline in Cash Solutions. Group revenues in April and May were down 7%. G4S said it currently expects to deliver resilient underlying operating profit and substantial net cash flow in 2020.
G4S Group CEO, Ashley Almanza said: 'G4S is at an important inflexion point as we rapidly transition towards a highly focused global business delivering technology-enabled security solutions. The sale of our conventional cash business is 75% complete, reducing our net debt and strengthening our strategic, commercial and operational focus.'
At 31 May 2020, the Group had liquid resources of 1.5 billion pounds comprising cash, cash equivalents and bank overdrafts of 0.9 billion pounds and committed, unutilised credit facilities of 0.6 billion pounds.
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