(Alliance News) - Security services company G4S PLC on Monday said earnings for the first six months of 2020 will be "significantly" above market consensus following a "resilient" trading performance in June.
According to the company, analysts' average forecast for first half adjusted profit before interest, tax and amortisation is GBP159 million and adjusted earnings per share of 4.3 pence.
In the first half of 2019, G4S recorded adjusted Pbita of GBP234 million and adjusted EPS of 3.8p.
As a consequence of the strong first-half performance, the FTSE 250-listed company has decided to bring forward its first-half results announcement to the week commencing July 20.
Shares in London-based G4S were up 9.3% at 130.50 pence each on Monday morning.
In June, the company had said group revenue for the first five months of 2020 was down 1% year-on-year due to a sharp 16% drop in Cash Solutions business revenue, offset by slight growth in Secure Solutions revenue. Revenue in April and May was down 7%.
By Tapan Panchal; tapanpanchal@alliancenews.com
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