Safe pair of hands again for G4S in the Footsie index

The world's biggest security services firm, G4S, is expected to regain its place in the FTSE 100 when the blue-chip stocks index's constitutents are reviewed this week.
By The Newsroom
Published 29th May 2017, 08:52 BST
Updated 4th Jun 2017, 21:12 BST

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Shares in security services giant G4S hit a record high earlier this month. Picture: Ian RutherfordShares in security services giant G4S hit a record high earlier this month. Picture: Ian Rutherford
Shares in security services giant G4S hit a record high earlier this month. Picture: Ian Rutherford

G4S entered the Footsie in 2007, but was relegated to the FTSE 250 in December 2015 after damage to its reputation in the UK over a number of botched contracts, including the 2012 London Olympics, hit its share price badly.

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Earlier this month, the group’s shares soared to an all-time high after it posted a 9 per cent uplift in its first-quarter revenues thanks to new contract wins. G4S’s shares have risen by nearly 40 per cent this year.

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In April, the company, which was also hit by a prisoner-tagging scandal in 2013, agreed a $56.5 million (£45m) deal to sell its US youth detention centres to BHSB Holdings.

That business had more than 30 detention facilities spread across Florida, Texas and Tennessee. Profits at G4S Youth Services fell 9 per cent to $5m (£4.6m) last year.

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