Shares in outsourcing firm G4S have shot up by over 17 per cent after the company reported an uptick in earnings and revenue for the six months to 30 June.
Revenue was up to £3.53bn from £3.42bn in the first half of 2015.
Profit before tax rose to £115m from £80m last year, and earnings per share went up to 4.5p from 2.7p.
The company kept the interim dividend flat at 55p.
Shares in the company were up 17.4 per cent in early trading, the biggest jump in the stock since 2013.
Why it's interesting
G4S is still trying to shake off its scandal-laden past - the group was rocked in 2013 after allegations of fraud relating to its electronic tagging contract with the UK government - and its share price was knocked in June by the revelation that Orlando killer Omar Mateen had been employed by the company for almost 10 years.
However, the company said in this round of results that demand for its services "has remained positive", and reported that it had won new contracts worth a total of £1.4bn in the first half.
What G4S said
The group's chief exec, Ashley Almanza, said: "Our plans are delivering tangible results. We have much to do to realise the full potential of our strategy which is underpinned by our growth, innovation, productivity and portfolio programmes. Executing these programmes and reducing net debt remain our key priorities."
What the analysts said
"This is a solid report for the firm as it continues to let its performance metrics do the talking in face of its recent PR mishaps and fraud scandals," said Joshua Raymond, analyst and FX broker at XTB.com.
"Its new contract wins totalling £1.4bn in the first half of the year, which comes on top of its current contract pipeline valued at £6.3bn, shows the firm remains attractive as a specialist outsourcing and this gives shareholders renewed confidence that its proposition remains untarnished.
"It's no surprise therefore that G4S share prices rose more than 10 per cent on market open, hitting a six month high in the process. This earnings report could well be the confidence boost needed to spur a longer term revival in its share price, which before today's open had fallen by 39 per cent to hit new lows at the end of June. The buyers we have seen this morning are targeting a return in share price to the 260p level.”
G4S is still plugging away with its clean-up plans.