Britain’s G4S has posted an 8.2 per cent rise in first-half core earnings and maintained its dividend, sending its shares 7 per cent higher as the group said it was making “substantial” progress in its turnaround plan.
Shares in the world’s largest security firm jumped on relief that the dividend – seen as vulnerable by some analysts – was maintained at 3.59 pence per share.
The company, which runs services ranging from moving cash for companies to protecting ships, is selling weak businesses under a restructuring program as it attempts to recover from a string of high-profile contract problems in Britain.
Analysts had feared that the group would be hit by Britain’s vote to leave the European Union, a more sluggish economy and a fall in the value of the pound making its debt in foreign currencies more expensive to service. The UK alone accounts for around one fifth of G4S’s revenues.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.