Member Article

G4S suffer as Dutch prisons close

Security services firm G4S has reported lower margins in the first quarter of 2013, citing “challenging economic and trading conditions in Europe.”

UK pricing pressures were also noted as the firm warned group margin was down around 0.6%, with a similar theme expected for the rest of the year.

The firm also said that plans of the Netherlands Ministry of Justice to close 30 prisons would also have a significant impact on business.

Shares fell by 11% on Tuesday morning following the publication of results. Despite this, G4S said UK government business continued to grow, aided by contracts started in 2012.

This was posted in Bdaily's Members' News section by Tom Keighley .