This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-28768442

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Security firm G4S back in profit but more work needed Security firm G4S back in profit but more work needed
(about 1 hour later)
Security firm G4S has reported a pre-tax profit of £85m for the six months to the end of June, compared with a loss of £94m a year earlier.Security firm G4S has reported a pre-tax profit of £85m for the six months to the end of June, compared with a loss of £94m a year earlier.
The scandal hit firm said it benefitted from strong demand in emerging markets and a return to growth in North America. The scandal hit firm benefitted from strong demand in emerging markets and a return to growth in North America .
But chief executive Ashley Almanza, said there remains "much to be done" to restore performance at the firm.But chief executive Ashley Almanza, said there remains "much to be done" to restore performance at the firm.
Revenue grew 4.1% to £3.37bn compared with £3.23bn a year earlier. G4S was banned from UK government contracts after it emerged it charged too much for electronic prisoner tags.
G4S also sold six businesses and closed another 15 smaller firms as part of a review of its portfolio of businesses. The Serious Fraud Office is examining G4S and outsourcing firm Serco over the contracts.
Operating profit for the first half rose 6% to £185m from £174m the year before. G4S was also severely criticised after it failed to recruit and train enough security staff for venues during the 2012 Olympics, forcing the government to draft in the Army to provide additional security.
That beat City forecasts for an operating profit of £177m. Renewal
In April, G4S was allowed to bid for government business again after it was barred from bidding for new contracts in a row about overcharging. In April, G4S was allowed to bid for government business again after it agreed to repay £109m following the overcharging row.
It subsequently won a Department for Work & Pensions (DWP) contract to manage community work placements for the long term unemployed.
In total the security and outsourcing firm won £1.2bn worth of contracts in the first half of the year.
G4S said the loss of the electronic tags contract was partially offset by improved performance in its secure cash delivery vans service.
The firm added its failures in the UK had led to a "corporate renewal programme" with the aim of changing and strengthening governance and performance within the group as a whole.
It said revenue grew 4.1% to £3.37bn in the first half of the year, compared with £3.23bn a year earlier.
It also sold six businesses and closed another 15 smaller firms as part of an ongoing portfolio review.
Emerging markets
Shares in G4S were 0.5% higher in early trade on the London Stock Exchange to 261.10p
Revenue grew by 4.2% in North America reflecting what G4S said was "strong performance" in its commercial security, compliance and investigations and electronic monitoring units.
In Latin America revenue grew 12.8% to £325m following a number of contract wins in the ports, car manufacturing, transportation, financial services, telecommunications and raw material extracting industries.
On Tuesday, fellow security and outsourcing firm Serco reported a loss after "poor trading" in the first half of the year.
Reorganising costs and loss-making contracts led to a reported pre-tax loss of £7.3m, a fall of 107% from last year.