G4S sees growth opportunities in UK
Security services group G4S yesterday reported a 3 per cent rise in first-half profit, helped by strong performances in emerging markets and predicted UK government spending cuts would fuel further growth. Operating profits rose to £238.1 million on revenues up 4 per cent at £3.63 billion for the six months to the end of June.
Chief executive Nick Buckles said: "There are growth opportunities in the UK outsourced government sector - we can help the British government through a difficult time."
Services companies with exposure to contracts with the British government are bracing themselves for Downing Street's October Spending Review.
However, G4S, which provides services ranging from cash transportation to security and protection, believes spending cuts may boost sales in areas where outsourcers would be hired to achieve savings.