Sunday, May 29, 2022

G4S anticipates higher profits

Botswana Stock Exchange listed Security Company – G4S Botswana Limited is expecting its profit before tax for the year ended December 2021 to grow as much as 47 percent from the previous reporting season. In the previous year G4S recorded a profit of P16.8 million.

In a cautionary statement issued this week, G4S Botswana’s board of directors said that the 2021 numbers are estimated to be P7.9 million higher than those of 2020.

In line with section 5.4c of the Listing Requirements of the Botswana Stock Exchange (BSE), quoted companies are expected to publish a cautionary announcement as soon as they are satisfied that a reasonable degree of certainty exists that the expected profit or loss (before tax) for the period to be reported upon next will differ by at least 10% from the most recent financial results for the previous corresponding period.

Meanwhile the financial results in question are expected to be published on or before 31 March 2022. Shareholders have since been advised to continue exercising caution when dealing with the company’s securities, until a full announcement is made.

“The information contained in this announcement represents a preliminary assessment made by the Board based on the information made available to the Board as at the date hereof. The actual results of the Group for the financial year ended 31 December 2021 may be different from what is disclosed herein” read part of the G4S Botswana’s cautionary statement.

The security solutions provider’s major shareholder is G4S International UK Limited which holds 70 percent, while Botswana Public Officers Pension Fund (BPOPF) has a 9.96 percent stake. Other shareholders include Motor Vehicle Accident Fund (MVA), Debswana Pension Fund and Stanbic Botswana.

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