G4S share price plummets after fake press release “reveals” £400m profit overstatement November 12, 2014 Outsourcing firm G4S was the subject of a hoax press release yesterday, which falsely claimed that the company had overstated its profit by almost £400m. The firm’s share price dropped by more than 3.5 per cent around the time that the email was sent out. However, it recovered to finish up by more than two [...]
G4S share price edges up as it reveals growth in developing markets and North America November 12, 2014 It's been a disappointing few years for outsourcer G4S, but things might finally be looking for the company. It reported this morning its performance was in line with expectations, with organic revenue growth rising 4.2 per cent in the nine months to 30 September, thanks to "strong growth" in its US and emerging markets businesses. [...]
G4S shakes off tagging scandal as earnings rise August 13, 2014 OUTSOURCING firm G4S yesterday showed that its turnaround was gathering momentum, as it posted a 13.2 per cent rise in first-half earnings on the back of £1.2bn worth of new contracts. The FTSE 100 company, which has undergone a corporate overhaul to shrug off the prisoner tagging scandal, saw earnings rise to £86m, while revenue [...]
Look out Serco, G4S is leaner and meaner – Bottom Line August 13, 2014 Serco should sit up and take notice of G4S’ progress. While both firms were in the mire last year due to a prisoner tagging scandal, G4S swiftly set about overhauling its management and streamlining the business. And it’s working. Admittedly, most of G4S’ growth is coming from emerging markets rather than the UK, but a [...]
G4S returns to black as security company recovers from tagging scandal August 13, 2014 G4S has returned to profit for the six months to June 30, with growth in Africa and South America offsetting declining revenues in the UK. The security giant has posted pre-tax profits of £85m for its first half, reversing the £94m loss it recorded last year. Operating profit rose 6.5 per cent on the [...]
Bill Gates sells down stake in outsourcer G4S May 28, 2014 MICROSOFT co-founder Bill Gates has sold off part of his stake in G4S, the scandal-struck outsourcing firm said yesterday. Multi-billionaire Gates owned the shares through his companies Cascade Investment and the Bill & Melinda Gates Foundation Trust. It is thought that he sold a small part of his stake, bringing his holding down to just [...]
Sudden exit for UK boss of G4S May 20, 2014 SCANDAL-STRUCK outsourcing firm G4S has lost its third UK boss in two years, with Eddie Aston leaving after just over six months in the role. The FTSE 100 company refused to say why Aston, who joined from Deutsche Post DHL last year, had departed. G4S has appointed Peter Neden, regional president of UK & Ireland, [...]
G4S says goodbye to third UK chief in two years May 20, 2014 G4S, the tagging scandal hit security services firm, has lost its third UK chief executive in two years. Eddie Aston, who joined the contract giant from Deutsche Post DHL, has left after just six months in the role, as first reported by the FT’s Gill Plimmer. The company confirmed he left at the end of [...]
G4S emerging markets unit boosts growth May 7, 2014 OUTSOURCING firm G4S showed it has begun to rise from the ashes of last year’s scandals yesterday, posting strong revenue growth in emerging markets. The FTSE 100 company, which agreed to repay £108.9m to the UK government in March after overcharging on a criminal-tagging contract, said revenues had grown by 4.8 per cent in the [...]
New G4S boss paid £1.5m in 2013 while Buckles left with no bonus April 14, 2014 G4S’s CHIEF executive was paid £1.46m last year, including a £648,000 bonus, as the board praised Ashley Almanza’s efforts to turn around the troubled outsourcing firm since Nick Buckles’ departure last May. Almanza joined G4S last April and took on the chief executive role in June, amid a high-profile fraud scandal relating to an electronic [...]