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Security firm G4S increased its turnover last year

Posted on 14 March 2013.

Security firm G4S increased its turnover last year – but saw profits hit by the Olympics scandal

The company posted revenue of £7.5 billion in the 12 months to 31 December 2012, up from £7bn the previous year.

However, pre-tax profit dropped by almost a third to £175m, with the high profile London Olympic Games security contract chalking up an £88m loss.

Just weeks before the Olympics started, G4S said it would not be able to provide the 10,400 guards it was contracted to supply.

Chief executive Nick Buckles later admitted before a committee of MPs that the contract had been a “humiliating shambles.

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