Home news G4S weighs on FTSE 100 as growth outlook cut

G4S weighs on FTSE 100 as growth outlook cut

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Shares in the world’s largest security group, G4S, dropped 5% after it downgraded its revenue growth forecast.The company now expects revenue growth of 3-4% this year, compared with an earlier forecast of 4-6%, following a disappointing performance in the Middle East and India.G4S was the biggest faller in the FTSE 100, with the index down 1.23 points at 7,561.05 in early trade.Primark owner AB Foods fell 4.3% despite reporting a rise in profits.The food-to-fashion group said adjusted operating profit rose 22% to £1.36bn in the year to 16 September, with group revenues up 15% at £15.4bn.Outside the FTSE 100, shares in upmarket drinks maker Fevertree jumped nearly 9% after it said its full-year results were set to be “materially ahead” of current market expectations. It said UK trading had been “particularly impressive”.On the currency markets, the pound fell 0.2% against the dollar to $1.3141 but rose 0.1% against the euro to €1.1362.
Source: BBC