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G4S profits rise on emerging markets | G4S profits rise on emerging markets |
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Security firm G4S has reported a £4m rise in profits to £185m for the first half of 2015 due to new contracts and growth in emerging markets. | Security firm G4S has reported a £4m rise in profits to £185m for the first half of 2015 due to new contracts and growth in emerging markets. |
G4S provides healthcare for the UK's Yarl's Wood immigration detention centre, deemed a "place of national concern" after it was found to be failing vulnerable women. | |
The company also took a charge of £17m from reviewing legacy contracts. | |
Emerging markets' revenue rose 5.7% to £1.18bn but UK revenue fell by 3.2%. | |
G4S's operations include providing services for prisons and airports, and restocking cash machines. | |
It also has outsourcing contracts from companies and governments to place, for example, police and prison officers where there are shortages. | |
Revenues were £3.2bn, up 2.8% compared with the same period last year. | Revenues were £3.2bn, up 2.8% compared with the same period last year. |
New contract sales were £1.4bn. | |
Chief executive Ashley Almanza said: "Demand for our services was robust, particularly in North America, Latin America and Asia Middle East. As anticipated, revenues were lower in UK & Ireland." | Chief executive Ashley Almanza said: "Demand for our services was robust, particularly in North America, Latin America and Asia Middle East. As anticipated, revenues were lower in UK & Ireland." |