| |
AS WE MOVE TOWARDS THE NEXT STAGE OF OUR DEVELOPMENT, INVOLVING GREATER EMPHASIS ON LONGER-TERM RELATIONSHIPS WITH CUSTOMERS REQUIRING EVER GREATER EXPERTISE, I AM VERY OPTIMISTIC ABOUT THE OPPORTUNITIES TO CONTINUE THIS PROCESS AND TO GROW OUR BUSINESS EVEN FURTHER.
Performance 2007 has seen the group deliver a solid performance, maintaining good margins and growth, particularly in new markets. Profit before interest, taxation and amortisation increased by 16.8%* to £312.1m and turnover grew 14.5%* to £4,490.4m. Our margin has increased to 7.0%; organic growth was strong and improved to 9.1% and adjusted earnings per share increased by 10.7% to 13.4p.
* To show a fair comparison, constant (2007) exchange rates are used.
Dividend The directors recommend a final dividend of 2.85p or DKK 0.279 per share, payable on 6 June 2008, which, with the interim dividend of 2.11p or DKK 0.232 per share paid on 16 November 2007, makes a total dividend of 4.96p or DKK 0.511 per share for the year ended 31 December 2007. This represents an increase of 17.8% over the total dividend for 2006 and reflects a continuation of the board’s stated aim to reduce the company’s target dividend cover to two and a half times over the medium term.
The Board This is my second chairman’s statement and the first covering a period when I have been chairman of the board throughout the year. I am very pleased to be able to report that the board continues to work well; combining a broad spectrum of experience with great enthusiasm for the task of growing and developing the business.
As mentioned elsewhere in this report, Sir Malcolm Williamson has decided to retire from the board this year and so will not be seeking re-election at the Annual General Meeting in May. Malcolm’s contribution to the board since the company was formed in 2004 has been extremely valuable and his experience has contributed much to ensure the board has functioned efficiently. I would like to record my personal thanks to Malcolm for all that he has done for the group. Lord Condon has kindly agreed to take over from Malcolm as senior independent director.
Our Staff The board takes every opportunity it can to meet the group’s employees who work so hard in what are often difficult and occasionally dangerous circumstances to perform the services the group provides for its customers in so many parts of the world. We never fail to be impressed by the enthusiasm and dedication which we find amongst management and staff at all levels.
We have seen that this spirit manifests itself not only during working hours and in the performance of the services undertaken for customers, but also in the dedication which managers show to their staff and which both management and staff show towards the communities in which they live. Some of the ways in which individuals within the G4S family seek to improve the lives of those around them are described elsewhere in this report in greater detail. I am very proud of these examples and of all the many other similar projects undertaken by G4S companies and employees around the world.
Our Future As I have mentioned already, the group does not intend to stand still. As we have indicated, we intend to implement a strategy which will bring us closer to our customers and which will involve the provision of more complex solutions to a wider spectrum of customers under longer term agreements. I believe our company is in excellent shape to execute this strategy and to reap the benefits it will bring.
Alf Duch-Pedersen
Chairman |
|
 |
January
G4S divests its German cash services business. |
| |
|
|
FEBRUARY
G4S announces the acquisition of Fidelity Cash Management Services (Pty) Ltd, the market leader in cash services in South Africa. |
| |
|
|
MARCH
G4S reports 2006 operating profits up by 10% and turnover growth of 8.4%. |
| |
|
|
APRIL
Dungavel House Immigration Removal Central, operated by G4S Justice Services (UK) is declared as being “… the best-run IRC we have inspected” by Her Majesty’s Chief Inspector of Prisons. |
| |
|
|
MAY
The U.S. Department of Energy and National Nuclear Security Administration select Wackenhut Services, Inc for the Oak Ridge Complex Protective Services contracts. |
| |
|
|
JUNE
G4S launches its innovative global sports development programme to support the next generation of sports stars, the G4S 4teen, and Group 4 Securicor plc becomes G4S plc. |
| |
|
|
JULY
G4S acquires Omada Fire & Security Group, the Irish manned security and fire suppression business. |
| |
|
|
AUGUST
G4S is awarded Norway’s largest security contract at OSL, Oslo airport and reports 11.8% turnover growth and 15.9% growth in group operating profits for the six months to 30 June 2007. |
| |
|
|
SEPTEMBER
G4S wins a new contract to provide electronic monitoring equipment and services to the Department of Corrections in New Zealand. |
| |
|
|
OCTOBER
G4S Cash Services (UK) partners with SmartWater Technology Ltd, specialists in forensic security, to protect its valuable cargoes. |
| |
|
|
NOVEMBER
G4S launches next phase of strategy, to drive accelerated growth and development, to the capital markets. |
| |
|
|
DECEMBER
G4S announces agreement to acquire Global Solutions Limited (GSL) and enters the FTSE 100. |
|
|
