first_img Share What G4S said Harry Robertson whatsapp G4S’s earnings per share fell to 3.8p from 6.8p a year previously.  The firm will now focus solely on its security business, through which it runs prisons and detention centres across Britain. Its revenue rose, however, reaching £3.8bn in the second half compared to £3.7bn in the same period in 2018. Chief executive Ashley Almanza said: “Our separation review is now complete and the board has approved the separation of cash solutions from the group. As a result, we have set in train plans for the demerger of cash solutions in the first half of 2020.  whatsapp G4S’s statutory profit before tax fell to £108m in the six months to 30 June, down from £142m a year earlier. WIMBLEDON, ENGLAND – JUNE 27: Members of G4S security work near Murray Mound as Andy Murray of Great Britain plays his Gentlemen’s Singles third round match against Roberto Bautista Agut of Spain on day five of the Wimbledon Lawn Tennis Championships at the All England Lawn Tennis and Croquet Club on June 27, 2014 in London, England. (Photo by Dan Kitwood/Getty Images) Its operating cash flow also fell to £189m in the second half from £251m a year earlier. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little The sight of G4S’s blue armoured vans transporting cash around the country could become a thing of the past as it turns to focus on its security operations. Its cash solutions business, which includes a network of cash machines, contributed under a fifth of revenues in 2018. Why it’s interesting G4S to spin off cash handling business as it posts profit fall On the financial results, he said: “In the first half of this year, our improving sales performance in both secure solutions and cash solutions saw the group deliver underlying revenue growth of 4.7 per cent. This growth together with new contract wins, supports our medium-term revenue goal of four to six per cent per annum.”  G4S has said it will spin off its cash handling business, a move which could see its armoured vans come off British streets, as the UK contractor posted a fall in pre-tax profit in half-year results today. The move follows the launch of a review in December 2018 into separating its two main businesses. G4S said it has received a number of unsolicited expressions of interest from third parties to acquire parts or all of the cash solutions businesses. The figures (Image credit: Getty) “We believe that this will create two strong, focused businesses each with the clear potential to capitalise on market leading positions and to unlock substantial value for customers, shareholders and employees.” Friday 9 August 2019 8:48 amlast_img

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