Emerging markets growth helps boost G4S first quarter revenue

Wednesday 07 May 2014 08.43
The UK group is in the middle of overhauling its sprawling 125-country business
The UK group is in the middle of overhauling its sprawling 125-country business

G4S, the world's biggest security firm, said strong demand across its emerging markets regions helped group revenue rise 4.8% in its first-quarter. 

Hit by a series of contract scandals that have severely damaged its reputation and profits, the British group is in the middle of overhauling its sprawling 125-country business.

It is shaking-up management, cutting costs, improving customer service and restructuring weak divisions to help revive its fortunes.
              
It said today that revenue for the three months to March 31 grew 4.8%, with organic growth of 5%. Operating profit for the period was up slightly on 2013.

The group, which won work worth £440m annually in the quarter, said emerging markets organic revenue growth was 16%, compared to a flat performance in developed regions.