G4S bolsters defences

G4S stepped up its fight against a Canadian rival’s hostile takeover by yesterday promising to deliver £1bn of free cash flow in the next five years.

Bosses at the security firm said the target demonstrated their confidence in their strategy, and that they had put a number of scandals behind them.

They could also begin to pay dividends next spring if uncertainty caused by Covid-19 settles down.

Chief executive Ashley Almanza said Garda World’s ‘opportunistic’ bid rode roughshod over shareholders’ interests.

Garda World, however, branded the financial targets as ‘empty promises’.