Investor Alert

Sept. 21, 2020, 2:28 a.m. EDT

G4S: Earnings up over eight months

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By Joe Hoppe

G4S PLC said Monday that it has had a resilient performance in the first eight months of the year, with a slight slip in revenue offset by cost controls, and underlying earnings ahead of 2019 levels.

For the eight months ended Aug. 31, overall revenue was just 1.9% lower overall, which was offset by tighter cost control and reduced interest costs. Secure Solutions' revenue--which represents 93% of total revenue--was broadly in line with 2019 levels.

Underlying earnings--which were in line with 2019 in the first six months--are now ahead of the prior year for the first eight months, the U.K. security-services company said.

G4S in 2019 reported full year revenue of 7.76 billion pounds ($10.03 billion) and adjusted earnings before interest, taxes and amortization of GBP501 million.

The company added that, while the global economic outlook remains uncertain, its performance demonstrated its strength.

"The benefits of our strategy, strong execution and timely response to Covid-19 continue to be reflected in the group's results during 2020 with resilient revenue, earnings and cash flow," Chief Executive Ashley Almanza said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

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