G4S turnaround strategy gains momentum with Dubai contract

 
Suzie Neuwirth
TROUBLED security firm G4S’s turnaround hopes were boosted yesterday by the announcement of a new three-year contract with Dubai Airports.

The new deal, which could be extended by a further two years, will see G4S provide services including boarding pass checks and security screening at the UAE airport. The deal value was not disclosed.

The FTSE 100-listed company saw its reputation tumble recently after a number of high-profile fiascos including its botched handling of security at the London 2012 Olympics. However, it has reshuffled its executive team and is now looking to cut its soaring £2bn debt pile, with a recent £350m share placing and £250m of disposals.

G4S unveiled a five-year contract with Shell last week, under which it will provide security solutions to the oil giant in over 30 countries.

“This contract highlights our extensive understanding of the dynamics of a large aviation operation and demonstrates how our focus on customer service enables us to create a better airport experience,” commented David Stockton, G4S director of Global Aviation Solutions.

Grant Blackwood, G4S’s operations manager at Dubai Airport, added: “We are pleased to be able to work closely with Dubai Airports to support initiatives that improve the standard of service for the airport’s customers.” Shares closed 0.4 per cent higher at 258.80p.