G4S Posts H1 Profit

G4S PLC

posted a profit in the six months ended June 30. G4S posted a pretax profit of GBP85 million ($142.67 million) in the period, versus a year-ago pretax loss of GBP94 million. Its revenue surged 3.8% to GBP3.37 billion from GBP3.25 billion, while organic revenue climbed 4.1%. Its profit before interest, tax and amortization climbed 6% to GBP185 million, from GBP175 million. Half-yearly profit attributable to equity holders of the parent came in at 78 million pounds, versus a year-ago loss of 196 million pounds. Its earnings per share came in at 5.0 pence, compared to a year-a earlier loss of 14.0 pence. On an underlying basis, profit attributable to equity holders surged to 86 million pounds, versus 76 million pounds. Its underlying earnings climbed to 5.6 pence, versus 5.4 pence. The year-ago results included 124 million pounds in impairment and other items. New contract sales surged 26% to 1.2 billion pounds. The company also maintained its interim dividend of 3.42 pence per share. Chief Executive Officer Ashley Almanza said, "The group made good progress and delivered a satisfactory financial performance in the first six months winning new contracts with a total value of £1.2 billion.” G4S shares rose 0.41% to close at $22.03 yesterday.