Security: G4S posts 8pc rise in profits
Published 11/08/2016 | 02:30
Shares in security van company G4S surged yesterday as the world's largest security firm posted strong results.
During the first six months of its financial year revenue dipped at its UK and Ireland division to £563m (€658m).
However, the company has shifted its focus away from the UK to meet demand for its services elsewhere.
Groupwide revenue at the firm increased 5.1pc to £3.1bn as profits at the company rose by 8pc to £199m.
G4S chief executive Ashley Almanza said the company is delivering tangible results with its profit margin improving to 6.45pc from 5.1pc in June 2013.
"We have much to do to realise the full potential of our strategy which is underpinned by our growth, innovation, productivity and portfolio programmes.
"Executing these programmes and reducing net debt remain our key priorities. The board has declared an interim dividend of 3.59p per share," she said.
The company, which transports cash as well as other services, is looking to change its business through disposals of its weaker units.