The Guardian has reported that G4S has posted pre-tax profits of £85 million for the first half of 2014, a significant improvement from the same period in 2013, when it had losses of £94 million. Although the UK division presented a 2% decline in revenues, largely attributed to the offender tagging contract, the group saw an overall 4% increase in revenue and a 12% rise in emerging markets.
The company added that it is still rebuilding ties with the UK Government, while seeking to appoint a new head for the UK division after Eddie Aston quit in May. An appointment is expected by the end of the year.
