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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Serco Group plc    SRP   GB0007973794

Delayed Quote. Delayed  - 08/24 05:35:21 pm
130.9 GBp   -0.08%
08/24 SERCO : Rail Technical Services wins new contract with Loram
08/22 SERCO : *ubs raises serco group price target to 131 (95) pence - 'ne..
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G4S in talks with shareholders about possible cash call

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07/14/2013 | 05:40pm CEST

British security firm G4S (>> G4S plc) has held talks with large investors about the prospects for tapping them for cash, a spokesman for the company said on Sunday.

British security firm G4S (>> G4S plc) has held talks with large investors about the prospects for tapping them for cash, a spokesman for the company said on Sunday.

G4S CEO Ashley Almanza has ordered a sweeping review of G4S and is expected to announce measures to try and repair its balance sheet when he reports half-year results in August, the spokesman confirmed.

Asked about the possibility of a rights issue, Almanza told Britain's The Sunday Times newspaper: "Shareholders have been asked about this. I will conduct a full review of the business and evaluate the various options, and we have many options. I have not given any signal either way."

His comments follow a difficult week for the company.

Britain said on Friday it would not be awarding any new contracts to G4S and rival Serco (>> Serco Group plc) until they received a clean bill of health from a government review after an audit found they had charged for tagging criminals who were either dead, in prison or never tagged in the first place.

Shares in G4S, which makes around 10 percent of its turnover from British government work, have tumbled 25 percent over the past year amid a series of scandals.

Its reputation was severely hit last year when it failed to provide enough security guards for the London Olympics and a profit warning in May led to the departure of long-serving chief executive Nick Buckles.

(Reporting by Tommy Wilkes, editing by William Hardy)

Stocks treated in this article : Serco Group plc, G4S plc
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Latest news on SERCO GROUP PLC
08/24 SERCO : Rail Technical Services wins new contract with Loram
08/22 SERCO : *ubs raises serco group price target to 131 (95) pence - 'neutral'
08/16 SERCO : Sandwell team achieves industry first with top customer service standard
08/09 SERCO : *liberum cuts serco group to 'hold' ('buy') - target 135 (120) pence
08/09 *TRADERS : Liberum cuts serco group to 'hold' ('buy')
08/08 SERCO : appoints new Contract Director at HMP Doncaster
08/08 *TRADERS : Numis raises serco group to 'hold' ('reduce')
08/05 SERCO : *s&p global cuts serco group to 'hold' ('buy') - target 140 (115) pence
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Financials ( GBP)
Sales 2016 2 980 M
EBIT 2016 70,4 M
Net income 2016 29,8 M
Debt 2016 133 M
Yield 2016 -
P/E ratio 2016 46,25
P/E ratio 2017 51,03
EV / Sales 2016 0,53x
EV / Sales 2017 0,55x
Capitalization 1 439 M
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Mean consensus HOLD
Number of Analysts 16
Average target price 1,20  GBP
Spread / Average Target -8,1%
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Managers
NameTitle
Rupert Christopher Soames Group Chief Executive Officer & Executive Director
Roy Alan Gardner Non-Executive Chairman
Edward J. Casey Group Chief Operating Officer & Executive Director
Angus George Cockburn Chief Financial Officer & Executive Director
Angie Susan Risley Independent Non-Executive Director
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