G4S tries to shake off Olympic stigma
Wednesday 07 November 2012
G4S attempted to put its Olympic security fiasco behind it yesterday ahead of a key test of the Government's willingness to work with it on major contracts.
The company was at the centre of a national scandal earlier this year for failing to provide enough security staff for the London 2012 Games.
However, the group said its revenues rose 6.3 per cent during the first nine months of the year.
G4S said the cost for failing to meet its Olympic contract remained unchanged at £50m.
The results come at a pivotal time for the group with six contracts to run nine British prisons expected to be awarded over the next few days.
Analysts say G4S's success in the bidding process will be a key indicator of Government's long-term appetite to work with the company.
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