Restructuring turns around G4S fortunes
Friday, August 22, 2014
In his commentary on the published financial results, G4S managing director Michael Kampani said the good growth was achieved across all products on the backdrop of significant growth in the cash business and a healthy recovery of the facilities management business. The growth in earnings was driven by the success of turnaround drive in achieving improved revenue growth and significant cost efficiencies.
“Cost efficiencies resulting from a restructuring of the business in the last quarter of 2013 and various other cost containment initiatives including bad debts and recovery of facilities management business contributed to the significant growth in profitability,” he stated. The company’s profits declined in the past two years after the acquisition of Facilities Management Services in 2011. Last year it recorded a 37, 8 percent decline in profits to P4.82 million and a marginal revenue growth of 0.7 percent for the year ended 31 December 2013.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...