Investors Piled Into G4S After The Security Giant Said Profits Would Trump Expectations And Unveiled A Shake-up That Could See It Axe 1 150 Jobs
Investors piled into G4S after the security giant said profits would trump expectations and unveiled a shake-up that could see it axe 1,150 jobs.
First-half profits will be far higher than the £159million outsiders have forecast, G4S said, despite previously flagging revenues which fell slightly between January and May.
A short update to the stock market on the profit outlook sent its shares rising in early trading.
Rosy outlook: Security giant G4S said first-half profits will be far higher than the £159m outsiders have forecast
And they stayed high after it later emerged the company is planning to make sweeping changes to its UK cash handling business, which fills up ATMs and transports money from small businesses.
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People were already switching from paying for things in cash to electronic card and phone payments.
But the pandemic has sped this up.
Staff across the business, thuê xe ô tô tự lái hà nội from couriers to administrators, will be affected by the cuts, which the GMB union said marked 'another worrying step towards a cashless society'.
<div class="art-ins mol-factbox floatRHS money" data-version="2" id="mol-db345ba0-c53d-11ea-bc0e-d7a998f86348" website REPORT: G4S soars after shake-up plans puts jobs in peril
