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G4S earns from illegal immigrants
24.08.09
Companies cutting spending on security guards and cash security is being offset by increased revenues from dealing with Britain's illegal immigrants, the UK's leading security company said today.
G4S said it it is shrugging off the recession by its expansion into UK immigration and security in the Middle East and Africa.
The group today reported slower growth in cash handling for the big supermarkets like Tesco, Asda and Morrisons.
But it said it had gained from new immigration detention and removal contracts at the Brook House and Tinsley House establishments at Gatwick airport.
The Middle East is G4S's fastest expanding market, though the firm was recently rocked by news of murder charges against one of its employees in its controversial ArmorGroup subsidiary in Iraq.
G4S today reported half-year pre-tax profits up 18% at £128 million. The interim divi is up 10% at 3.02p.
