OUTSOURCING firm G4S yesterday showed that its turnaround was gathering momentum, as it posted a 13.2 per cent rise in first-half earnings on the back of £1.2bn worth of new contracts.
G4S performed far better in emerging markets, where revenues rose 12.1 per cent, while developed markets' sales were flat. The company said "much remains to be done" in its domestic market, where revenue fell two per cent to £790m.
G4S, alongside peer
The company is in the process of hiring a new
G4S is ramping up its divestment strategy, having sold off six of its less profitable units over the past year. It has now decided to put 15 more divisions on the block as part of its plan to restructure the business. Shares closed 5.3 per cent higher at 273.50p.
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