G4S Botswana says it has put in place a firm plan to drive recovery of electronic security and also other segments of the group which include cleaning services. This comes after electronic security segment for G4S declined by 5.4 percent which the company says is because of relatively reduced number of large electronic systems projects than the previous year. The listed company released its reviewed annual results for the year ended December 2016 showing an improvement in revenue. Group revenue increased from P207.10 million recorded in 2015 to P213.8 million for the year under review. Though electronic security took a dive, the company was able to achieve growth in revenue which it says it is all thanks to its balanced portfolio offering and supported by new contracts acquired in Facilities Management and Cash Solutions including strong uptake on deposita. G4S, which has a market capitalisation of P320 million, says its strategic priority to drive a balanced top line growth by enhancing service delivery offering through innovative mediums is bearing results.
Growth is mainly driven by cleaning services which achieved growth of 19.8 percent while strong growth continues to be seen in manned security and cash solutions which registered growth of 6.4 percent and 3.5 percent respectively due to major contact renewals. The Deposita product has seen growth, according to G4S, from seven devices in 2015 to over 60 in 2016. Despite trading conditions remaining subdued, G4S is confident of its business and excellent long term prospects with the outlook for the year in both revenue and profit said to be positive and promising. G4S – which recently announced Mokgethi Magapa as new Managing Director, taking over from Michael Kampani – says big strides were made in 2016 towards improving customer feedback and strengthening which is expected to continue well into the future. “The company will maintain its focus on integrating technology in its offering of higher end quality products,” Magapa and G4S chairman, Lebang Mpotokwane said in a joint statement. The two said the directors are confident that the business will overcome the current economic environment and deliver growth in earnings as well as more value to customers.