First-half results from G4S (GFS) will provide an opportunity for chief executive Ashley Almanza to prove the encouraging first-quarter update was not just a flash in the pan. The update back in May revealed a pleasing £950m order intake and revenue for continuing businesses up 4.5 per cent.
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G4S-watchers will be looking for a continuation of those positive trends and news on the disposal of underperforming businesses. At the last update, 42 businesses were still up for sale with G4S eyeing £250m to £350m proceeds in the next couple of years. That cash will be crucial to get its net debt to cash profit ratio (3.3 times at the year-end) down to a more comfortable level.