G4S ‘high alert’ on terror as profits and sales grow after turnaround push

Recent terror attacks have put event organisers on a “high state of alert” in the UK, the boss of security giant G4S said on Wednesday.

Chief executive Ashley Almanza said: “It is a marginal impact and tends to be short in duration but in the summer season, there tend to be lots of concerts and events. Everybody is on a high state of alert and awareness. In the current environment, most organisations are unlikely to cut back on security.”

G4S grew both sales and profits by 6% to £3.7 billion and £235 million respectively in the first half. Almanza reckons he can find an extra  £100 million in efficiencies by 2020.

But the shares slumped 23.2p, or 7%, to 312.7p, to be at the bottom of the FTSE 100, as markets fretted over slowing growth in emerging markets.

Across the group, Almanza has the task of turning around a business riven by scandals such as tagging dead prisoners.

The chief executive has slimmed down the group with  £503 million in disposals, including its UK controversial children’s homes business.