Thursday, July 18, 2024

G4S searches for new Managing Director

The incumbet managing director of G4S Botswana, Michael Kampani has hinted his interest to continue as the country manager of the BSE quoted security solutions outfit.

The UK originating security giant advertised for the managing director post in the local media recently, sparking speculations on whether the company would retain Kamapani or lay him off. Coincidentally Kampani’s residence and work permits expire at the end of June this year.

In an interview with The Telegraph on Monday, Kampani pointed out that is it upon his employers to decide whether they want him to stay or not.

“As you may be aware, the job is open for everybody for transparency for all interested candidates to participate,” said Kampani.
Following an apparent squeeze of business over the years, G4S Botswana seems to be in a desperate need for a candidate who will lead and transform the local unit towards increased growth and development imperatives, sustainability and profitability.

Last year Kampani lead G4S Botswana to lay off some members of staff as the struggling company implemented the ‘right sizing’ exercise following the review of structures in line with declining profitability.

A close look at the company’s share price shows that it dropped from P5.80 per share as at end of 2012 to a low of P3.30 per share as at November 2013.

The company’s total liabilities increased to about P36.4 million in 2012 from P27.9 million in 2011 while its Gross Profit declined from an increase of 74 percent in 2010 to a negative 65 percent in 2012. ?At the same time, dividend payout also took a dive from 33.38 thebe per share paid out in 2011 to 14.74 thebe per share paid in 2012.

Meanwhile the company released its trading statement this week stating that its results for the year ended 31 December 2013 will be lower than those reported for the year ended 31 December 2012.

“This is owing to muted revenue growth, an increase in the impairments of trade receivables and one off costs associated with restructure of the business. However the board is pleased to note that turnaround initiatives undertaken in 2013 have been a success and the results are already manifesting in both operational and financial performance of the business going into 2014. “


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