G4S secures future with fresh deals
NEW contracts in security, defence and the Olympics are helping security group G4S to ride out the downturn.
The company, which transports cash and runs prisons, said government deals and forays into new markets helped to offset slightly slower growth in commercial security services.
It forecast a strong performance next year after operating profits rose 12 per cent in the first nine months of 2009.
Revenues rose 9 per cent at constant exchange rates in the period to the end of September while margins improved 0.2 per cent.
Recent contracts included the running of two immigration detention centres for the UK Border Agency and an electronic monitoring contract worth £40million a year has been extended for a further two years.
The company also runs Parc Prison in Wales while other notable contracts include facilities management for the Olympic Delivery Authority and the Ministry of Defence, as well as the first contract to monitor offenders in Northern Ireland.
G4S – formerly Group 4 Securicor – is the largest employer quoted on the London Stock Exchange with 585,000 staff in more than 110 countries.
“Our businesses have continued to perform well,” the company said. “We are confident we can deliver a strong performance in 2009 and into 2010.”