G4S revenues rise amid takeover talk

TAKEOVER target G4S posted a jump in firstquarter revenue and said it is making good progress in a review to split off its cash business.

Revenue was 4.8pc higher than in the same period last year as chief executive Ashley Almanza said in a trading update there had been growth ‘in all regions and divisions’.

It came as G4S, which runs UK prisons and is known for bungling security at the London 2012 Olympics, is eyed by Canadian rival Garda World, which may buy the world’s largest listed security firm and has until May 8 to make an offer.

G4S’s security division, which provides guards to major events, grew 4.9pc as it picked up more work in Africa and the Americas.

And a 4.4pc boost in sales in its cash arm, which transports and stores money, was helped by a 30pc jump in North America revenues.

G4S said in December it was looking to split off the cash business to focus on its security arm as it thinks a separation will make money for shareholders. Shares rose 1.7pc, or 3.9p, to 233.9p.