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Brazil And China Open Up For G4S

Brazil And China Open Up For G4S

Date: Tuesday, November 10, 2009
Source: This is Money

Security specialist G4S is planning to expand its operations in Brazil and China following a rule change that allows more foreign investment.

Chief Nick Buckles said he has a few medium-sized deals in the pipeline.

The firm expects to shell out £100m a year on acquisitions, and the group has spent about £55m so far in 2009.

He added: 'We're looking to enter Brazil and invest more in China in 2010 after regulations changed there, meaning we can now, as a foreign company, own security firms in China.'

Buckles was speaking as G4S (down 2.9p at 249.9p) said nine-month sales were boosted by demand from emerging economies and an increase in government spending.

In an update, the company said operating profit was up 12% on sales up 9% for the first nine months.

G4S, which provides private security for a range of activities including rock concerts, overseas embassies, and prisoner transfer, is expected to report full-year profits of about £365m.

Recent contracts have included the running of immigration detention centres for the UK Border Agency at Brook House and Tinsley House near Gatwick. And an electronic monitoring contract worth £40m a year has also been extended for a further two years.

To read the article click on the link below.

This is Money


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Brazil And China Open Up For G4S

Brazil And China Open Up For G4S

Date: Tuesday, November 10, 2009
Source: This is Money

Security specialist G4S is planning to expand its operations in Brazil and China following a rule change that allows more foreign investment.

Chief Nick Buckles said he has a few medium-sized deals in the pipeline.

The firm expects to shell out £100m a year on acquisitions, and the group has spent about £55m so far in 2009.

He added: 'We're looking to enter Brazil and invest more in China in 2010 after regulations changed there, meaning we can now, as a foreign company, own security firms in China.'

Buckles was speaking as G4S (down 2.9p at 249.9p) said nine-month sales were boosted by demand from emerging economies and an increase in government spending.

In an update, the company said operating profit was up 12% on sales up 9% for the first nine months.

G4S, which provides private security for a range of activities including rock concerts, overseas embassies, and prisoner transfer, is expected to report full-year profits of about £365m.

Recent contracts have included the running of immigration detention centres for the UK Border Agency at Brook House and Tinsley House near Gatwick. And an electronic monitoring contract worth £40m a year has also been extended for a further two years.

To read the article click on the link below.

This is Money

Courtesy of SecurityOracle.com - The Secury Industry's Portal