Security group heads to FTSE

THE scandal-hit security firm which nearly ruined the London Olympics is heading back to the FTSE 100 after a surge in its share price.

G4S bungled its recruitment of security guards for the 2012 Games, forcing the Army to step in at the last minute. The firm was then hit with a £109m bill after it was revealed it had overcharged the Government during its contract to monitor electronic tags – billing the taxpayer for criminals who were dead, in prison or had left the country.

The botched contracts saw its share price fall, and the firm dropped out of the blue chip index at the end of 2015. But G4S has surged since the start of the year thanks to contract wins with companies including Lloyds and Walmart. Shares are up nearly 40pc and it is on the brink of regaining its place in the stock market’s premier league in a review this week.

Industrial land firm Segro and high- end housebuilder Berkeley are also set for a promotion. Intu Properties, Hikma Pharmaceuticals and Royal Mail are in line to be relegated.