G4S sees underlying profits improve in 2012

Despite taking a large hit from its Olympics ordeal, reducing total profits by a third, the underlying profit of security firm G4S improved in 2012. Our reporter Cathy Adams:

The blue chip firm said this morning that operating profit – excluding the Olympic contract – came in at £516m over the full year, up from £487m in 2011, on underlying revenues 8.1 per cent higher at £7.3bn.

G4S was also flattered by new government contracts, as it started around £200m worth of work in 2012.

(Full article)