SECURITY group G4S has unveiled a plan to make half of its annual revenues from emerging markets by 2018.
The FTSE 100 company, whose operations include airport security, is to start the process with a £200m investment, which could include some acquisitions. G4S also reported a five per cent increase in half-year profits from £142m to £149m.
The group said it aimed to boost revenues from emerging markets from the current 29 per cent to at least half of its total turnover by 2018.
Chief executive Nick Buckles said: “We would be focusing a chunk of our acquisition spend on new markets, so we are currently looking at places such as Brazil, Ecuador, Thailand, Malaysia and South Korea.”
G4S, which is Europe’s biggest private sector employer with 625,000 staff, said that half-year revenues from emerging markets rose to £910m, up from £818m in the same period last year.
Brazil will require major security measures at the 2014 World Cup and 2016 Olympics, with G4S looking for a chunk of that business. The company already has won the contracts for the London 2012 games.
G4S said on UK government contracts: “We expect that to pick up by the end of the year.”
Shares in G4S surged 8.5 per cent yesterday to close at 264.4p.