Readers know that I see G4S (GFSZY) (GFSZF) as the less sophisticated version of Securitas (SCTBF) (SCTBY) but with a larger opportunity set for optimizing its core business operations.
This quarter, G4S took yet another step to optimize its core operations, but faced pro-forma headwinds due to foreign exchange issues and one-off costs. The two core components of optimizing its core operations, refinancing and divesting unprofitable contracts, are both at the end of their lifetimes and are soon to be completed. This quarter marked the end of the current focus on core business optimization.
G4S