G4S profit up as signs of UK and US recovery

ANGLO-DANISH security firm G4S posted a 4.2 per cent rise in 2010 profit, helped by growth at its emerging markets and security services units, and said it was seeing signs of economic recovery in the UK and US
By The Newsroom
Published 15th Mar 2011, 08:41 BST

Anglo-Danish security firm G4S posted a 4.2 per cent rise in 2010 profit, helped by growth at its emerging markets and security services units, and said it was seeing signs of economic recovery in the UK and US

G4S, which provides services ranging from cash transportation and facilities management to security and protection, today posted a full-year profit before interest, taxes and amortisation (PBITA) of £527m on revenues 4.1 per cent higher at £7.39bn.

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G4S, formerly known as Group 4 Securicor, said the outlook was positive and that it expected to deliver improved sales in 2011.

“We are encouraged by signs of economic recovery in our larger developed markets of the US and the UK,” the company’s chief executive Nick Buckles said in a statement.

“We remain confident about the outlook for 2011 when we expect to deliver an improved organic revenue growth performance.”

The second biggest private-sector employer in the world after US retailer Wal-Mart said it would pay a final dividend of 4.73 pence per share for 2010, up 14 per cent on the prior year.

Shares in G4S, which have shed four per cent in the last week, closed at 256.9 pence yesterday, valuing the business at around £3.7bn.