G4S revenue grows on new business gained
Wednesday, October 04, 2017
In the black: G4S continues on the recovery path
For the half-year period ended June 30, 2017, the group’s revenue grew by 2.4% to P110.7 million from P108.1 million the same period last year.
During the same period, gross profit was P43.3 million, a 7.4% increase from P40.3 million in the prior period.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...