G4S won £1.2bn of contracts in the first half and increased profits, but said there was "much to be done" to turn the troubled security group around.

G4S, which faced strong criticism for failing to provide enough security guards at the 2012 Olympics and allegations of overcharging on a UK government prisoner tagging contract, said new contract wins had risen 26%.

Underlying pre-tax profit before interest and amortisation rose 6.3% to £185m, driven by a 14.7% gain in emerging markets. Profit in developed markets such as the UK rose 6.7%. Corporate costs increased £8m to £28m.

Underlying earnings lifted 13.2% to £86m and earnings per share rose 3.7% to 5.6p on a 4.1% lift in revenue to £3.4bn.

Chief executive Ashley Almanza said G4S was making encouraging progress but added: "There remains much to be done to capture the full potential of our strategy and to strengthen the group's performance.

"Demand for our services was robust, particularly in emerging markets. We are restructuring and rebuilding our businesses in UK & Ireland and in Europe. We have seen growth return to the North American market."

PW

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