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The world’s biggest security company, G4S (LON:GFS), revealed strong quarterly results on Thursday, sending shares higher in early morning trade.
Revenues climbed 8.9 percent higher than the first quarter of 2016, with double-digit organic growth in developed markets and revenues broadly unchanged in emerging markets. New contract wins and the pipeline provide confidence in the Group’s expectation of average revenue growth in the range of 4-6 percent per annum.
The company said in a statement: “Trends continued from 2016, with double-digit organic growth in developed markets and revenues broadly unchanged in emerging markets.
“As part of the established portfolio programme, the Group realised $56.5 million in the quarter from the sale of the Youth Services business in the United States.”
G4S Chief Executive Officer, Ashley Almanza, added, “In line with our expectations, the Group had a strong start to the year, with the momentum from 2016 continuing into the first quarter of 2017.”
Shares in G4S are currently trading up 2.89 percent at 323.60 (0925GMT).