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G4S profits rise despite Olympic debacle

Thomson ReutersMarch 13, 2013 11:31

LONDON (Reuters) - Security group G4S posted a six percent rise in annual profit, as emerging markets growth helped soften the blow of an Olympics staffing blunder that rocked the British firm in 2012. The world's No.1 security group on Wednesday said 2012 operating profit excluding the Olympics was 516 million pounds, up six percent on 2011 and within analysts' forecast range of between 510 and 520 million pounds.

UPDATE 1-Security firm G4S to sell struggling US Government arm

Thomson ReutersMarch 5, 2013 09:15

LONDON, March 5 (Reuters) - G4S, the world's biggest security firm, said it would sell its high-level U.S. government business by the end of the year after budget cuts and delays hit revenues in the division. The sale is expected to complete within six months, it said on Tuesday, explaining that as a non-U.S. firm it had less access to important commercial data, which compounded the high-level security restrictions which made it harder to manage and grow the business.

Security firm G4S loses £70 mn over Olympics fiasco

Agence France-PresseFebruary 12, 2013 09:15

British security giant G4S is to lose £70 million ($110 million, 82 million euros) over its failure to provide enough guards for the London Olympics, the company said on Tuesday. The firm had previously estimated that it would lose £50 million over the fiasco, which forced the British government to draft in 4,700 troops at the last minute to help guard the Games.