Revenues rise at G4S despite Olympic failings

Security group G4S this morning said revenue grew 6.3 per cent over the nine months to September, as its core UK market showed an improved performance.

Its secure solutions division grew six per cent, flattered by strong performance in developing markets, UK government and US commercial businesses.

The world’s largest security group said that it expected the US government market and European markets to remain challenging, although the developing markets business – which accounts for more than a third of profits – continued to perform strongly.

G4S, which was heavily criticised for failing to deliver on its Olympic contract earlier this year, has been rocked by the fiasco, which cost the firm £50m and caused several heads to roll.

Fears have also been raised that future contracts with government, its biggest client contributing half of G4S's British revenue, may also be jeopardised.