Security firm G4S to separate cash solutions business
London England August 13 2019
British security contractor G4S 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 Amrored Car and Cash Solutions divisions will be rolled into a new company.
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 ($284.05 million), slightly above analysts’ average consensus of 231 million pounds, based on company compiled estimates.
The company intends to focus its efforts into growing the uniform security area of the business.
