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G4S profits rise on emerging markets G4S profits rise on emerging markets
(34 minutes later)
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, while contract retention rates remained at about 90% although there was also a charge of £17m from legacy contracts. New contract sales were £1.4bn.
G4S's operations include providing security for prisons and airports and restocking cash machines.
Revenue from emerging markets rose 5.7% to £1.18bn but revenue from its operations in the UK fell by 3.2%.
G4S operates the UK's Yarl's Wood immigration detention centre, deemed a "place of national concern" after it was found to be failing vulnerable women.
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."