London Report: G4S tagging woes drag FTSE down to a one-month low March 12, 2014 THE UK’S top share index fell to a one-month low yesterday, led down by G4S after the security firm agreed a settlement with the government over an offenders’ tagging scandal. G4S sank 5.3 per cent in brisk trade after agreeing to repay £108.9m to the British government after overcharging it on a contract to tag [...]
G4S to pay government £109m over tagging contracts March 12, 2014 G4S has agreed to reimburse the government £109m plus value-added tax for overcharging on the company's contract to electronically tag prisoners, according to the Ministry of Justice (MoJ). The figure is significantly higher in cash terms than the £24m that G4S offered in November. The MoJ said it would consider asking for larger amount if [...]
Troubles mount for G4S as profits slide March 12, 2014 Troubled contracter G4S has suffered a fall in profit before tax of 15 per cent or £170m, according to the company's preliminary results for the year ended 31 December 2013. This compares to a profit of £158m in 2012. Revenue grew 2.7 per cent to £7.4bn, with strong revenue growth in emerging markets of 16 [...]