August 9, 2017 / 6:27 AM / 4 months ago

Security giant G4S turnaround on track as H1 profit up 7.6 pct

EDINBURGH, Aug 9 (Reuters) - The world’s largest security firm G4S said its ongoing turnaround was on track on Wednesday as it posted a 7.6 percent rise in first-half profit and forecast better contract potential ahead.

The group said it was confident of its expectation that full-year revenue growth would be in line with a medium-term aim of 4 to 6 percent and saw further expansion in 2018.

Revenues for the six months to end-June rose 6 percent to 3.7 billion pounds ($4.8 billion) and profit stood at 128 million pounds.

“During the second half of 2017, our growth programme will focus on consolidating contract wins made over the past year and on converting attractive opportunities in our pipeline,” CEO Ashley Almanza said.

$1 = 0.7680 pounds Reporting by Elisabeth O'Leary, Editing by Paul Sandle

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