G4S profits soar 30pc

SECURITY and outsourcing giant G4S posted a 30pc rise in pretax profit to £386m in 2017, with revenue up more than 3pc to £7.8bn.

While revenue in the UK and Ireland rose 2.1pc, a sluggish performance in the Middle East led to sales falling 5.1pc. Boss Ashley Almanza said: ‘G4S has delivered another year of profitable growth and good cash generation.’ Restructuring and efficiency programmes should bring £70m to £80m of savings by 2020.

Almanza added: ‘Strong market positions, commercial discipline, growing techrelated revenues, positive cash generation and ongoing productivity programmes provide substantial confidence that the group is wellpositioned.’