G4S to present at investor conference
ENTER SUB-SECTION TITLE HERE (IF REQUIRED)
Since the start of the year the Group has won new contracts with annual revenues of £1 billion and total contract value of £2 billion.
Revenues from continuing operations in the first nine months of 2016 were £4,821 million, up by 5.7% compared with the same period last year.
The combination of the group's organic growth and productivity programmes has produced double-digit growth in earnings and operating cash flow.
The Group remains on track with its plans to reduce leverage to 2.5x ND/EBITDA by the end of 2017; operating cash flows from continuing operations have increased by more than 60% year-on-year for the first nine months, and the Group is making good progress with its portfolio programme.
Following strong investment performance in the G4S pension scheme, the G4S pension trustees have agreed a reduced annual pension deficit payment of £39 million in 2016, with a 3% per annum increase until the next funding valuation.
G4S Chief Executive Officer Ashley Almanza commented: "The Group's strategy is delivering tangible benefits which are reflected in our operating and financial performance. The strong progress made in the first half has been sustained and for the first nine months the Group has delivered revenue growth of 5.7% and double-digit growth in earnings and operating cash flow. We still have a long way to go to realise the full potential of our strategy and we are encouraged by the Group's progress and prospects."
Full year results
Results for the twelve months to 31 December 2016 will be published on 8 March 2017.