G4S Transits Through First Half Solidly
No-moat G4S delivered first-half results bang in line with our expectations. While headline group revenue grew at 12.5% year over year, the businesses not earmarked for disposal grew at 6% over the period, at the top end of management’s guided 4-6% medium-term range. Meanwhile, earnings for the continuing businesses grew at 7.6% year over year. We do not expect to make any changes to our estimates or to our GBX 312 fair value estimate on the back of these results. Following the strong run in the...G4S is a security company that provides security and related services. Co.'s Secure Solutions products are comprised mainly of manned security and facilities management services, and its Cash Solutions products are comprised mainly of physical cash management services. Within the Secure Solutions services, Co. also provides: technology services, comprising the supply, installation and monitoring of alarm systems, and security and building systems technology; facilities management; and care and justice services. Within the Cash Solutions services, Co. also provides technology services to retailers, comprising hardware and software for customer cash management and related services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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