G4S beats City forecasts with rise in profits
The group is trying to restore its reputation after a string of scandals, such as failing to provide enough security guards for the London Olympics and overcharging the UK government on a contract for tagging criminals.
Although chief executive Ashley Almanza said the firm’s performance was “satisfactory” during the first half of the year, he added: ”There remains much to be done to capture the full potential of our strategy and to strengthen the group’s performance.”
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Hide AdOperating profits for the six months to 30 June grew 6.3 per cent to £185 million, ahead of City forecasts of £177m.
Revenues increased 4.1 per cent to £3.4 billion, helped by a 12.1 per cent rise in emerging markets across Africa, Asia, Latin America and the Middle East. Sales for Europe, the UK and US were flat at £2.2bn.
The interim dividend, to be paid on 17 October, was held at 3.42p a share.