StockMarketWire.com - Security company G4S reported an increase in half-yearly profits, led by 'strong' revenue momentum in its secure solutions business in Africa and North America. The company also said plans were underway to separate its cash solution business from the group.

For the six months ended 30 June 2019, underlying pre-tax profits rose to £175m from £163m and revenue grew 4.7% to £3,747m.

Secure solutions revenue was up 4.9% and cash solutions up 3.9% for the half year compared with a year earlier.

The interim dividend was unchanged at 3.59p per share.

'The Group’s first half performance, sales pipeline, revenue momentum and productivity programmes support a positive outlook. We are now implementing our plans to separate Cash Solutions from the Group and we expect that this separation will deliver material benefits to customers, shareholders and employees, said G4S Group Chief Executive Officer, Ashley Almanza.

'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 H1 2020.' 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.





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