g4s

Shares in security company G4S (LON:GFS) sunk over 3 percent on Thursday morning, despite hiking their dividend for the 2017 year.

The group raised their final dividend was raised by 5 percent to 6.11p per share, taking the full-year dividend to 9.7p per share.

The results released on Thursday also showed a 3.2 percent rise in revenue from continuing businesses, hitting £7.43 billion, as well as a 5.7 percent earnings boost to £277 million. Profit after tax grew to £281 million from £263 million the previous year.

Developed markets showed the strongest growth, with revenues up 3.7 percent, with emerging markets revenue growth benefitting from a 2.9 percent rise. Technology-related security revenues which grew 11.4 percent.

Chief executive Ashley Almanza said: “G4S has delivered another year of profitable growth and good cash generation, enabling us to invest in our growth, technology and productivity programmes and, at the same time, strengthen our balance sheet.”

“The outlook for the Group is positive: our strong market positions, commercial discipline, growing technology-related revenues, positive cash generation and on-going productivity programmes provide substantial confidence that the Group is well positioned to deliver a strong performance over the next three years.”

Adjusted PBITA came in at £496 million, an increase of 4.2 percent, with net debt to EBITDA up 2.4x from 2.8x in 2016.

Shares in G4S (LON:GFS) are currently trading down 3.45 percent at 254.90 (0859GMT).