Emerging markets growth helps boost G4S first-quarter revenue

LONDON Wed May 7, 2014 2:14am EDT

LONDON May 7 (Reuters) - G4S, the world's biggest security firm, said strong demand across its emerging markets regions helped group revenue rise 4.8 percent in its first-quarter.

Hit by a series of contract scandals that have severely damaged its reputation and profits, the British group is in the middle of overhauling its sprawling 125-country business, shaking-up management, cutting costs, improving customer service and restructuring weak divisions to help revive its fortunes.

On Wednesday it said revenue for the three months to March 31 grew 4.8 percent, with organic growth of 5 percent. Operating profit for the period was up slightly on 2013.

The group, which won work worth 440 million pounds ($748 million) annually in the quarter, said emerging markets organic revenue growth was 16 percent, versus a flat performance in developed regions. ($1 = 0.5885 British Pounds) (Reporting by Neil Maidment; editing by Kate Holton)

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