Ticker GFS

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As of 22:37 22 Mar 2019
Market cap. Pound sterling
2,876.36 million
As of 22:37 22 Mar 2019

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G4S shares sink as profits fall

G4S sign

Shares in security firm G4S have sunk 7% after the company's results fell short of expectations.

Full-year pre-tax profits fell 63% to £143m after it was hit with costs related to a lawsuit settlement and a charge for pension equalisation.

Revenue dropped 4% to £7.5bn. The fall was blamed on the "relative strengthening" of the pound, and also came after it sold several businesses.

G4S added it had received "unsolicited expressions of interest" from firms looking to buy its cash business. In December last year, G4S had said it was looking to demerge or list the cash unit.

A security guard keeps watch at Kotal-e-Kherskhan in Wardak province on September 25, 2010.

Reality Check team

BBC News

The demand for armed security at foreign embassies, military bases, and for NGOs is still high.

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G4S tumble further after warning

Police guard against riots at Birmingham prison in 2016
The Government took over Birmingham prison from G4S following riots and poor conditions

Shares in G4S, the embattled security company, have extended earlier falls and are now trading down 5.46% to 182.9p after it warned on full-year profits.

Expectations of lower sales or profits also continued to dog software security firm Sophos Group, down down 27.1% to 332.8p, and pub group JD Wetherspoon which shed 11.1% to £11.64.

The wider FTSE 250 is ahead 0.24% at 19,088.52.

ITV is still the FTSE 100's biggest faller, down 5% at 146.43p while M&S is off 2.2% at 295.6p after it reported lower food and clothing sales.

Precious metals miner Fresnillo is leading the blue chip risers, up 4.1% at 907.9p.

The FTSE 100 is up 1% at 7,114.66.