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Security firm G4S reveals loss on Olympic failures

Security firm G4S reveals loss on Olympic failures

U.K. security company G4S says failing to fulfill its contract to provide security for the London Olympics has cost it 50 million pounds ($79 million.)
The firm admitted in early July that it would not be able to provide all of the 10,400 contracted guards for the London Games, forcing the government to call in the military at the last minute.
G4S revealed the exceptional cost when it reported its interim earnings Tuesday. It said half-year pre-tax profits had fallen to 61 million pounds from 151 million pounds a year earlier.
The company, which is to conduct a review of the Olympics failure, said it had delivered 83 percent of contracted shifts, adding that it is confident that the Paralympics, which begin Wednesday, will be fully staffed. It will provide 5,000 staff to guard the games.


Updated : 2021-05-11 19:52 GMT+08:00