G4S shares sink as profits fall

Shares in security firm G4S have sunk 7% after the company’s results fell short of expectations.

Full-year pre-tax profits fell 63% to £143m after it was hit with costs related to a lawsuit settlement and a charge for pension equalisation.

Revenue dropped 4% to £7.5bn. The fall was blamed on the “relative strengthening” of the pound, and also came after it sold several businesses.

G4S added it had received “unsolicited expressions of interest” from firms looking to buy its cash business. In December last year, G4S had said it was looking to demerge or list the cash unit.

Source – BBC News