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Security firm G4S to separate cash solutions business

Security firm G4S to separate cash solutions business
FILE PHOTO: Flags fly outside HMP Birmingham after the British government took over its running from G4S, in Birmingham, Britain August 20, 2018. REUTERS/Darren Staples -
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Darren Staples(Reuters)
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(Reuters) – British security contractor G4S <GFS.L> said on Friday its board had approved plans to separate its cash solutions business as it looks to focus on its mainstay security operations.

The company, which had received a number of unsolicited expressions of interest from third parties to acquire parts or all of the cash solutions businesses, said it would continue to evaluate proposals for all or parts of the business alongside the implementation of its demerger plans.

G4S, the world’s largest private security group, said adjusted profit before interest, tax and amortization rose to 234 million pounds, slightly above analysts’ average consensus of 231 million pounds, based on company compiled estimates.

(Reporting by Justin George Varghese and Yadarisa Shabong in Bengaluru; Editing by Anil D’Silva)

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