G4S hit by delays to restructuring

G4S has defended its restructuring plans as its own figures show that, three and a half years into a transformation, it has completed only a quarter of the planned changes in some areas.

Three out of the six key areas for change outlined in the firm’s annual report are just 25pc complete. These are safety performance, IT and lean process automation, and direct labour efficiency. The latter was flagged up in 2014 as an “early focus” for chief executive Ashley Almanza’s plan to turn the business around, after he took on the role in June 2013.

Other areas such as route planning and telematics, and procurement and property are 50pc complete. It is understood that while progress has been good in developed markets, such as the US, it has been slower in emerging markets.

A spokesman for G4S said Mr Almanza had always been clear that the business needed to continue to make improvements.

G4S estimates that the changes will ultimately save the business between £90m and £100m each year by 2020.