Wednesday, June 19, 2024

G4S turnaround on track as profit up 4.5%

G4S Botswana, the Botswana Stock Exchange (BSE) listed security solutions group’s revenue went up by 2.4 percent to P110.7 million from P108.1 million recorded in 2016. The upward movement is attributed to new business across the portfolio in cash, manned and facilities management.

The company’s gross profit has also escalated by 7.4 percent to P43.3 million while its profit from operations went up by 5.1 percent to P19.3million from P18.3million in 2016. The Profit Before Taxation (PBT) also went up by 4.5 percent to P20.8million from P19.8million in 2016 while Profit After Taxation (PAT) went up by 4.5 percent to P16.2million from previously P15.5million in 2016.

Managing Director Mokgethi Magapa said Thursday that the Cash and cash equivalent business shot up by 192 percent to P29.2million from P10m. He added that capital investment is at P2.9million.

“Our strategic priorities remain embedded in our operations across our business lines to adequately enable support to our order to cash process,’ said Magapa.

Magapa also spoke about the business process of re-engineering through productivity gains in revenue leakage controls on billing process as well as deployment costs against revenue which is contract profitability focused. Magapa stated that the company is now focusing on growth and Innovation by repositioning systems business, focus on cash solutions and that they are reviewing and refocusing on Order to Cash value chain.

“We remain focused on delivering value by driving top line growth and liberating resources within our business value chain so as to enhance our customer experience throughout the order to cash process,” said Magapa.

Further quizzed on the direction and priorities of the company, he said that the business activities are concentrated in the segment of security related services and are provided within the geographical region of Botswana. He added that the geographical segmental information is not considered necessary.

The company declared an interim dividend, which went up by 6.7 percent to P9.7million at 21.13/share while it was P9.08million in 2016 at 11.36 thebe per share previously.



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