G4S profits swell due to tight cost control during coronavirus pandemic October 14, 2020 Security firm G4S said this morning that profit for the first nine months of the year was ahead of 2019 levels despite a dip in revenue as it clamped down on costs during the coronavirus pandemic. The group’s revenue fell two per cent, which was “more than offset by tight direct and indirect cost control [...]
G4S hits back at Gardaworld over ‘misleading’ pension scheme claims October 7, 2020 Outsourcing giant G4S has hit back at Gardaworld after the Canadian firm stepped up its attempts to take over its larger rival. In a statement this morning, the FTSE 250 firm blasted the company over claims it made regarding the viability of G4S’ pension schemes. Having had multiple offers to take over the firm rejected [...]
G4S rejects clone Gardaworld bid as takeover pursuit goes on September 30, 2020 G4S has rejected another takeover bid from Gardaworld, once again saying that the £3bn offered “significantly undervalues” the company. This morning, the Canadian firm submitted a fourth bid for the outsourcer at an offer price of 190p per share, the same price that was tabled at the end of August. In a statement, G4S chairman [...]
G4S shares surge as outsourcer beats first half expectations July 23, 2020 Outsourcing giant G4S said that it had beaten its first half expectations for profit after a solid performance by its core security division. Shares in the firm rose 6.2 per cent as markets opened this morning. The figures Profit at the firm fell 4.6 per cent over the period, down from £196m last year to [...]
Norwegian wealth fund blocks investment in security giant G4S on human rights concerns November 14, 2019 Norway’s £860bn sovereign wealth fund has blacklisted investment in one of the world’s biggest security companies, G4S, because of an “unacceptable risk” of human rights abuses against its workers in Qatar and the United Arab Emirates. London-listed G4S employs around 18,000 people in the two countries – part of its more than half-a-million global workforce [...]
G4S shares fall after Canadian rival mulling buyout says: ‘We’re not interested’ May 7, 2019 Shares in security giant G4S dipped this morning after it emerged Canadian rival Garda World had decided against a potential takeover deal over the bank holiday. Read more: G4S shares rocket as Garda World considers takeover bid G4S said it acknowledged Garda’s decision, adding it had not received any requests to extend the 8 May [...]
G4S reports rising revenues as North American cash business grows by nearly a third April 16, 2019 G4S shares rose two per cent this morning as it announced its revenues had risen 4.8 per cent, and that the separation of its cash and security businesses was making “good progress”. Read more: G4S shares rocket as Garda World considers takeover bid The security giant said revenue had grown in the first three months of [...]
Security giant G4S shares rocket as Canadian Garda World considers takeover bid April 10, 2019 G4S has rebuffed a speculative bid from Canadian firm Garda World – reports of which sent G4S shares up 30 per cent this afternoon. Garda World confirmed it was in the “preliminary stages” of considering an approach of the £7.5bn revenue firm. Read more: State seizes permanent control of G4S 'war zone' prison “Garda World notes [...]
G4S loses permanent contract for ‘war zone’ Birmingham prison April 1, 2019 A G4S prison in Birmingham has been taken back under permanent government control after it was found in a state of crisis so acute the Ministry of Justice (MoJ) was forced to step in last summer. HMP Birmingham was seized from the contractor in August last year when the prisons watchdog found it was exceptionally [...]
Whitehall must overhaul public sector outsourcing in wake of failures, says think tank March 28, 2019 The government should rethink the way it outsources public services, but banning the practice would be “throwing the baby out with the bathwater,” according to research. In a report, Reform think tank has called for more training for civil servants who hand out public contracts to the private sector in the wake of a raft [...]