UPDATE 1-Emerging markets growth helps boost G4S first-quarter revenue

miércoles 7 de mayo de 2014 04:02 GYT
 

* World's No.1 security firm posts 4.8 pct rise in Q1 revenue

* Emerging markets revenue up 16 pct; shares gain 1.8 pct

* British firm recovering from scandals (Adds details, comment, shares)

By Neil Maidment

LONDON, May 7 (Reuters) - G4S, the world's biggest security firm, said strong demand in emerging markets helped group revenue rise 4.8 percent in its first-quarter as it looks to bounce back from a series of 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 up from 4.5 percent in its fourth quarter to 5.0 percent, in line with forecasts.

Growth was led by a 16 percent revenue rise in emerging markets, which already make up 37 percent of group turnover and are a key focus for expansion. Revenue in developed regions was flat on a year ago.

Operating profit for the period was up slightly on 2013, the firm said, adding it had won work worth 440 million pounds ($748 million) annually in the quarter, including retail contracts in the United States and Brazil, a port security consultancy in the Middle East and a work programme deal with the UK government.   Continuación...