G4S

Ticker GFS

Today's data summary

Market closed
% change
+0.33%
Price Pence
197.05
Change
+0.65
As of 11:10 21 Sep 2019
Market cap. Pound sterling
3,044.79 million
As of 11:10 21 Sep 2019

Latest updates

G4S gears up to sell armoured van network

G4S armoured van
Reuters

Security contracting firm G4S could be set to sell off its network of cash machines and armoured vans.

The firm said its board had approved plans to separate that part of its business from its main security operations, which makes up more than 80% of its business.

Nevertheless, the cash machine and money transport unit employees 30,000 staff.

G4S said it would evaluate offers for its cash arm as it continues to separate the unit from from its main security business, which it expects to have completed by the middle of next year at a cost of £50m.

Labour calls for scrapping of private probation contracts

Private monitoring of offenders is "flawed"
Earlier this year, the chief inspector of probation said the current system in England and Wales - with private firms monitoring offenders serving community services - was irredeemably flawed.  

The government says it will announce new arrangements in due course.  

Labour used a debate on on prisons and probation, to call on ministers to scrap plans for new private probation contracts and new privately run prisons. 

Mandy Baker reports.

There's more from Today in Parliament at 11.30pm on BBC Radio 4 and BBC Sounds

No bid for G4S after all

G4S
PA

There isn't going to be a bid for G4S - which botched security arrangements at the London Olympics and runs UK prisons - after all.

Shares in G4S had jumped last month after Canadian rival Garda World admitted it was considering a takeover.

But G4S has told the stock market it did not receive an offer although it had received "additional expressions of interest" to buy its cash solutions businesses.

These offers will be evaluated alongside its previously announced review of the ways to separate its cash solutions business from the group, G4S said.

"Our aim is to establish two strong independent businesses that are able to take advantage of their leading market positions and excellent service offerings for the benefit of customers, employees and shareholders," it said.