G4S plc UK DK : G4S plc UK DK : Half-yearly report

              G4S plc UK DK : G4S plc UK DK : Half-yearly report

28 August 2013

G4S plc
2013 Half year results
Investing in sustainable, profitable growth

  *Sales up  7.2%,  organic  growth  of  5.4%.  Organic  growth  of  13%  in 
    developing markets

  *Underlying PBITA of £201 million (2012: £202 million^1)

  *Strong and growing global contract pipeline of £4 billion per annum across
    a diverse range of sectors and regions, supports prospects for sustainable
    profitable growth 

  *Cash generated from operations £218 million

  *A review of the group's assets  and liabilities has resulted in a  one-off 
    charge of £180 million

  *Net debt position as at 30 June 2013 was £1,950 million. The group is
    intending to raise funds via a 9.99% placing of new ordinary shares today

  *Agreed sale of Canadian Cash solutions business and Colombia Data
    solutions for proceeds of around £100 million. Sale of US businesses
    progressing to schedule

  *Interim dividend unchanged at 3.42p (DKK 0.2972)

Underlying Results^1                       

                                  Restated
                         H1 2013   H1 2012
Turnover                 £3,648m   £3,402m
Organic growth             +5.4%
PBITA                      £201m     £202m
Operating margin            5.5%      5.9%
Underlying EPS              6.6p      7.6p

^1at constant exchange rates, excluding acquisition items and discontinued
operations and non-underlying items.  H1 2012 PBITA excludes PBITA from
businesses subsequently classified as discontinued (£16 million) and has been
restated principally to exclude impairments and other items (£19 million) -
see page 4 for details.

Total results^2 

                  H1 2013 H1 2012
Turnover          £3,648m £3,449m
PBITA                £65m   £147m
Total EPS         (14.7)p    1.6p

^2at actual exchange rates, including acquisition items and discontinued
operations and non-underlying items. See pages 14 and 15 for details.

Ashley Almanza, Group Chief Executive, commented:

"There was strong demand for our services across key markets and industry
sectors in the first half of the year which resulted in continued revenue
growth. Growth was particularly strong in developing markets where we have
excellent market positions. There are significant growth opportunities in our
key markets and this is reflected in our growing contract pipeline of around
£4 billion per annum.

On a like-for-like basis, half-year profits were in line with the same period
in 2012 against a background of challenging trading conditions in Europe and
in our cash solutions businesses in the UK and Ireland.

We are divesting a number of non-core businesses, which will improve our
strategic focus and realise substantial cash proceeds. We have announced two
disposals today with combined cash proceeds of around £100 million and we have
a well advanced process to sell two other businesses in the US. We are also
considering other disposals and these together with those already announced
have the potential to raise up to £250 million.

We need to strengthen our balance sheet to be able to realise the group's
opportunity for substantial value creation. Today we have announced our
intention to raise funds via a 9.99% placing of new ordinary shares. This,
together with our disposals program and a renewed focus on cash flow
management will enable us to invest in sustainable, profitable growth and
reduce our debt to a level which supports our goal of maintaining a long term
net debt to EBITDA ratio of less than 2.5x.

On the operational front, we plan to introduce systems and processes to
improve efficiency and risk management and we will be restructuring a number
of businesses to ensure that they are more competitive and able to deliver
improved margins.

Our unique geographic footprint, strong market positions and the skills and
capabilities embodied in our employees, coupled with our diverse and global
customer base provide us with a solid foundation from which we can continue to
build the business.

Our strong contract pipeline, strengthened balance sheet, focused investment
programme and improved operational and financial management all support the
delivery of revenue growth, operational efficiencies and improved cash
generation. In the near term, 2013 will be a year of consolidation for the
group with the actions we are now taking starting to deliver tangible benefits
during 2014."

Group income                                                         June 2012
statement
for the
six months
ended 30 June 2013
                                             Non-underlying items     Restated
                    Underlying  Acquisition Restructure Impairment  Underlying
                       results        items                      &    results*
                                        and                  other
                               discontinued                  items
                                 operations
                            £m           £m          £m         £m          £m
Continuing
operations
Revenue                  3,648            -           -          -       3,402
Profit from                                                  (132)
operations
before
amortisationand
impairmentof
acquisition-related
intangible assets
(PBITA)                    201            -         (4)                    202
Amortisation and             -         (37)                   (48)           -
impairment of
acquisition-related
intangible assets                                     -
Acquisition-related          -          (2)                      -           -
expenses                                              -
Profit/(loss)              201         (39)         (4)      (180)         202
from operations
before interest
and taxation (PBIT)
Finance income               8            -           -          -           7
Finance costs             (73)            -           -          -        (61)
Profit/(loss)              136         (39)                  (180)         148
from operations
before
taxation (PBT)                                      (4)
Taxation                  (33)           10           1          3        (32)
Profit/(loss)              103         (29)         (3)      (177)         116
from
continuing
operations
after taxation
Loss from                    -          (5)                   (85)           -
discontinued
operations                                            -
Profit for the             103         (34)                  (262)         116
period                                              (3)
Attributable to:
Equity holders              93         (34)                  (262)         107
of the parent                                       (3)
Non-controlling             10            -                      -           9
interests                                             -
Profit for the             103         (34)                  (262)         116
period                                              (3)
Earnings per share
attributable to
ordinary equity
shareholders
of the parent
from continuing
and discontinued
operations
Basic and diluted         6.6p                                            7.6p

* 2012 at constant exchange rates and restated for the adoption of IAS19(R)
and to exclude impairments and other items see pages 4 and 20.

Prior year reconciliation for discontinued and other items

Prior year results have been  restated for operations subsequently  classified 
as discontinued  (shown below)  and are  reconciled with  previously  reported 
results below. Prior year results  have also been re-presented to  separately 
disclose profits/losses reported on disposal of fixed assets and  subsidiaries 
and impairments and  other items  relating to the  release of  fair value  and 
other provisions. These items  will be excluded  from the group's  underlying 
results going forward.

Finally, upon adoption of the revised retirement benefits accounting  standard 
(IAS19(R))  prior   year  PBITA   has  been   restated  to   include   pension 
administration costs that were previously reported within interest.

                                                  June 2012      December 2012
Adjustments to  prior year  reported  numbers 
for discontinued businesses and exchange rate Revenue PBITA Revenue      PBITA
movements:
As reported in 2012                             3,903   236   7,501        516
Discontinued businesses
North America                                   (333)   (9)   (230)       (14)
Europe                                           (72)   (2)   (147)        (3)
Asia Middle East                                 (42)   (5)       -          -
Africa                                            (7)     -    (14)        (1)
Total                                           (454)  (16)   (391)       (18)
Other presentational adjustments
Less: Impairments and other items                   -  (19)       -    (24)
Less: Profit on disposal of fixed
assets and subsidiaries                             -     -       -     (5)
Less: Pension admin cost
restatement from IAS 19(R)                          -   (1)       -        (3)
Total restated 2012 results at
actual rates                                    3,449   200   7,110        466
Less Olympics contract                           (80)     -   (204)          -
Underlying 2012 results at actual
rates                                           3,369   200   6,906        466
FX                                                 33     2     118          8
Underlying 2012 results at current
rates                                           3,402   202   7,024        474
Add back Olympics contract                         80     -     204          -
Total 2012 results at current rates             3,482   202   7,228        474

Underlying earnings per share is reconciled to basic earnings per share on
page 24. 2012 underlying EPS has been restated to include pensions interest
under the revised employee benefits accounting standard IAS19(R) to reflect
usual practice in our sector.

Underlying earnings per share                 H1 13 H1 12 at constant FX H1 12
                                                 £m                   £m    £m
PBITA from continuing operations                201                  202   200
Interest (including pensions)                  (65)                 (54)  (54)
Tax (including pensions interest)              (33)                 (32)  (32)
Minorities                                     (10)                  (9)   (9)
Underlying profit attributable to                93                  107   105
shareholders
Average number of shares (m)                  1,403                1,404 1,404
Underlying EPS (p)                              6.6                  7.6   7.5

GROUP COMMENTARY - CONTINUING OPERATIONS

Sales
In the first half of 2013, underlying sales were up 7.2% on the prior period.
Organic growth was 5.4% overall and 13% in developing markets which generated
revenue of £1.3 billion, 36% of group revenue (2012: 33%). Developed markets
growth was impacted by a 1% decline in cash solutions.

PBITA
Group underlying PBITA was £201 million and  was in line with the same  period 
last year  (2012:  £202 million).  The  first half  of  2012 PBITA  has  been 
restated to  reflect principally  discontinued  businesses (£16  million)  and 
impairment and other items (£19 million). Full details are set out on page  4. 
Underlying PBITA  margins were  5.5% for  the first  half of  the year  (2012: 
5.9%). Developing markets generated 41% of PBITA (2012: 35%).

A review of the group's assets and liabilities (see page 22) has resulted in a
one-off charge of £132 million at PBITA  level and £48 million in relation  to 
goodwill impairment.

Restructuring programmes have commenced  in the UK, Europe  and Ireland at  an 
expected cost of £30-35 million over 2013  and 2014. We will continue to  look 
for further  opportunities to  save costs  across the  group. A  restructuring 
charge of £4 million was taken in the first half of 2013.

Interest and tax
Net interest payable on net  debt was £55 million. This  is a net increase  of 
17% over the prior period cost of £47 million, principally due to the increase
in the group's net debt. The pension interest charge was £10 million (2012: £7
million), resulting  in total  net finance  costs of  £65 million  (2012:  £54 
million). The average cost  of gross borrowings during  the half year, net  of 
interest rate hedging, was 4.0% (2012:  4.4%). The effective tax rate for  the 
half year on underlying earnings was 24% (2012: 22%). 

EPS
Underlying earnings per share (see page 5  for more details and page 24 for  a 
reconciliation to basic earnings per share) was 6.6p compared to 7.5p (7.6p at
constant exchange rates) in  the prior period. To  reflect usual practice  in 
our sector, 2012 underlying EPS has been restated to include pensions interest
under the revised employee benefits accounting standard IAS19(R).

Cash flow
Cash generated  from continuing  operations was  £218 million.  This  included 
receipts of £76 million (2012: £12 million) relating to the Olympics  contract 
which was offset  by higher capital  expenditure and payments  of £60  million 
deferred from 2012 into 2013. Net cash flow from operations was £170  million 
(2012: £170 million).  Capital investment was  significantly front end  loaded 
this year and increased in the first half to £118 million (2012: £69 million).
The main areas of  investment have been in  vehicles, buildings and plant  and 
equipment, including investments in new contracts. Investments also  included 
£21 million on acquisitions in the first half of 2013 relating to a number  of 
smaller cash  solutions acquisitions  in South  Africa and  Indonesia and  the 
payment of deferred consideration on prior year acquisitions. 

The group's funding shortfall on funded defined retirement benefit schemes, on
the valuation basis specified in IAS19(R) Employee Benefits, was £323  million 
after tax (31  December 2012:  £335 million).  The group  has made  additional 
pension contributions  of £18  million  (2012: £19  million). Net  cash  flow 
before financing was £52 million (2012:  £101 million). Interest paid was  £88 
million (2012: £70 million) and  group shareholder dividend payments were  £78 
million (2012: £72  million). Net cash  outflow was £114  million (2012:  £56 
million).

Net debt
The net debt position as at 30 June 2013 was £1,950 million (31 December 2012:
£1,802 million). The increase  of £148 million reflects  net cash outflow  and 
foreign exchange movements. The group's net debt to EBITDA ratio is 3.2x  (see 
page 26 for details of the calculation).

Disposals
The group  has  announced the  agreed  sale  of its  Canadian  cash  solutions 
business for proceeds of £67 million and its Colombian Data solutions business
for around £35  million. These  proceeds are expected  in the  second half  of 
2013. The sale of US Government Solutions and RSS is progressing to  schedule, 
with multiple  buyers  in advanced  due  diligence and  agreement  subject  to 
achieving a satisfactory price and terms.

Equity raising
The group has today announced  its intention to raise  funds via a placing  of 
9.99% of ordinary shares.

Outlook
Demand for the group's  services and products remains  robust as reflected  in 
7.2% revenue  growth and  the potential  in the  global sales  pipeline of  £4 
billion. Our focus  in 2013  is to invest  in topline  growth and  operational 
capacity and to begin restructuring a number of our businesses. We expect 2013
to be  a year  of  consolidation and  the actions  we  are taking  to  deliver 
benefits from 2014 onwards. In the medium term we expect the group to start to
deliver attractive  revenue  growth and  we  expect that  operational  actions 
across a wide range of areas  will provide the opportunity to improve  margins 
over time.

Dividend
The board has declared  an interim dividend of  3.42p per share (DKK  0.2972), 
unchanged from the prior period.

28 August 2013

SEGMENTAL ANALYSIS

Results
The analysis of the group's business performance outlined in this announcement
has been updated to reflect internal management reporting lines which are  now 
based on geographic regions.   

Regional and Total Group underlying performance

                        Turnover        PBITA        Margins    Organic Growth
                                                                      %
                           £m            £m             %
* At constant         H1 13 H1 12 H1 13 H1 12 H1 13 H1 12         H1 13
exchange rates
Africa *                241    219     20     15   8.3%   6.8%             6%
Americas *               978    889     50     50   5.1%   5.6%             5%
Asia Middle East *       708    609     50     45   7.1%   7.4%            16%
Continental Europe *     824    832     45     51   5.5%   6.1%            -2%
UK & Ireland *           897    853     60     62   6.7%   7.3%             5%
Total Group before     3,648  3,402    225    223   6.2%   6.6%             5%
Head Office*
Head office costs *                  (24)   (21)
Total Group *          3,648  3,402    201    202   5.5%   5.9%             5%
 Exchange                 -   (33)      -    (2)
differences
At actual exchange     3,648  3,369    201    200
rates

Service line underlying performance

               Turnover         PBITA       Margins      Organic
                                               %          Growth
Six              £m              £m                        %
months
to
June
2013
           Secure Cash Solu- Secure Cash  Secure Cash  Secure Cash
           Solu-    tions    Solu-  Solu- Solu-  Solu- Solu-  Solu-
           tions             tions  tions tions  tions tions  tions
Developed   1,946        385    104    28   5.3%  7.3%     2%   -1%
Markets
Developing  1,088        229     67    26   6.2% 11.4%    13%   13%
Markets
Total       3,034        614    171    54   5.6%  8.8%     6%    4%
Group
before
Head
Office

                Turnover      PBITA       Margins    Organic Growth
Six               £m           £m           %             %
months
to
June
2012
At 2013 rates Secure Cash  Secure Cash  Secure Cash   Secure  Cash
              Solu-  Solu- Solu-  Solu- Solu-  Solu-  Solu-   Solu-
              tions  tions tions  tions tions  tions  tions   tions
Developed      1,896   389    109    35   5.7%  9.0%       6%   -1%
Markets
Developing       923   194     58    21   6.3% 10.8%       8%   11%
Markets
Total          2,819   583    167    56   5.9%  9.6%       6%    3%
Group
before
Head
Office

Secure Solutions

The secure solutions  businesses delivered  13% organic  growth in  developing 
markets and  2%  in  developed  markets. Margins  in  developed  markets  were 
impacted by an adverse  sales mix in  the USA and lower  volumes in our  Dutch 
Care & Justice business. Trading  conditions in Europe remain challenging  and 
we are  restructuring  some  of  our businesses  to  restore  margins.  Secure 
solutions margins in developing markets were broadly unchanged at 6.2%  (2012: 
6.3%). 

Cash Solutions

The cash solutions  business produced  organic revenue growth  of 4%.  Margins 
were lower than  prior year  in the developed  markets at  7.3% (2012:  9.0%), 
principally due to  weaker financial performance  in the UK  and Ireland  cash 
businesses  which  are  being  restructured  to  improve  future  performance. 
Developing markets margins were higher at  11.4% (2012: 10.8%) due to  strong 
performances in  South Africa  and the  Middle East.  G4Si, the  international 
valuables business,  achieved another  strong performance,  with good  organic 
growth supported by an increase in commodity shipments such as pre-refined and
refined metal, bank notes, credit cards, and pharmaceuticals.

AFRICA

In Africa organic growth was 6%.  The previous year benefited from a  contract 
to provide security for major projects  in Nigeria which completed at the  end 
of 2012. Margins  were much  stronger at  8.3%, due  to improved  performances 
across the region but  especially in South Africa.  New contracts won  include 
the Port of Tangiers in Morocco and a manned security contract with the United
Nations in  Southern Sudan.  The current  bidding pipeline  in Africa  remains 
strong -  particularly  in financial  services,  mining and  government,  with 
increasing numbers of both multi-country and larger scale bids. Following the
loss of the principal contract in Djibouti we have taken the decision to  exit 
this market.

AMERICAS

In the  Americas, organic  growth  overall was  5%,  impacted by  a  reduction 
involume for the US Southern Border Patrol contract and a reduction in  spend 
from financial institutions in  the US asthe  need for additional  protection 
from protest groups  reduced. The  regional margin  was lower  at 5.1%  (2012: 
5.6%)  due  to  increased  provisioning  for  general  liability  and  workers 
compensation claims in the US,  the absence of contract transition  incentives 
which were received in 2012 and a weak performance from our Brazil  technology 
business.

Contract wins remained robust overtheperiod with major contract awards  from 
Amazon and a major US regional financial institution in the US and a number of
contract wins in the financial services, government and extractives sectors In
Latin America.  The  Brazilian  facilities management  and  manned  security 
acquisitions Interativa and  Vanguarda are  performing well.   Today we  have 
also announced that we  have entered into a  definitive agreement to sell  our 
secure archiving  business  in Colombia  to  Iron Mountain  for  £35  million. 
Closing is subject to customary closing conditions and is expected within  the 
next month.

The sale of  our US  Government Solutions  and RSS  businesses, as  previously 
announced, is progressing to schedule.

Today we have also announced that we have entered into a definitive  agreement 
to  sell  our  cash  solutions  business   in  Canada  to  GardaWorld  for   a 
consideration  of  £67  million.  Closing  is  subject  to  customary  closing 
conditions including regulatory approval,  and is expected  before the end  of 
the year. The  cash solutions market  has proved challenging  in Canada for  a 
number of years and we believe  that the divestment represents the best  value 
for our shareholders, and will enable us to focus our resources and  expertise 
in faster growing cash solutions markets.

In the United  States we  are seeing increasing  interest in  our Retail  Cash 
Solutions product,  Cash  360,  with two  small  contracts  awarded  recently. 
Overall, the  North Americanbusiness  has a  strong contract  pipeline  with 
morethan £600 million  in near term  opportunities across all  sectors and  a 
visible long term pipeline of more than £1.5 billion.

ASIA MIDDLE EAST

Organic growth in Asia  Middle East was  very strong at  16% but margins  were 
down slightly  at  7.1% mainly  due  to the  completion  of some  high  margin 
temporary work in Indonesia and start-up costs in China where we were recently
awarded one of the  first licences to operate  a manned security business.  We 
had strong performances in  the care and justice  businesses in Australia  and 
New Zealand,  including  an  electronic monitoring  contract  in  Victoria  in 
Australia.  We  won  demining  and  risk  management  contracts  in  Iraq  for 
international  oil  companies,  and  manned  security  contracts  in  the  UAE 
including the  Abu  Dhabi  Education  Council,  Etisalat  and  a  renewal  and 
expansion of the  customer service  contract for  Dubai airport.  In July  the 
Australian Government announced that there would be a significant expansion of
our Manus Island  immigration centre contract  - we expect  this expansion  to 
begin next month and to be fully operational in November.

EUROPE

In Continental Europe organic growth was -2% and margins were lower due to the
impact of the proposed closure of 23 prisons and other cost reductions by  the 
Ministry of Justice in the  Netherlands.We were recently awarded the  manned 
security contract for Charleroi airport in Belgium which will start in October
2013.

Revenues for the security systems business,  which accounts for around 20%  of 
Continental European secure  solutions revenues, remains  in line with  2012. 
Contract wins include Stockholm municipal parking collections work in  Sweden, 
and a manned security contract for Google in Finlandoffsetting the loss of  a 
large Finnish retail customer.

Most Eastern European markets continued to face challenging market  conditions 
and saw organic growth decline. We have, however won a major systems  contract 
with Lego in Hungary and an Agip Shell contract in Kazakhstan.

UK & IRELAND

There was organic growth of 5% in UK & Ireland in the first half of the  year, 
with strong  growth in  care  and justice  services and  police  outsourcing. 
Weaker performance  in the  UK &  Ireland cash  solutions businesses  was  the 
primary reason for lower margins.

In UK cash solutions, restructuring  and business improvement plans are  being 
successfully implemented. We have also renewed a major Tesco Stores  contract, 
have been selected as  preferred bidder on  a renewal with  HSBC in the  first 
half of 2013 and have expanded our outsourcing partnership with Lloyds Banking
Group, taking over the management of their Edinburgh cash processing centre in
June. We  are also  in discussions  with a  number of  our bank  customers  in 
relation to additional new outsourcing opportunities.

UK contracts won during the first half  of 2013 include being selected by  the 
Department for Work & Pensions (DWP)  to manage the Child Maintenance  Options 
Contact Centre Service, provision of security at the G8 Summit in June and our
first contract to provide secure patient transport services under a three-year
deal with Northumberland,  Tyne and  Wear NHS Foundation  Trust. Other  recent 
contract awards include Derbyshire and Nottinghamshire Police Forensic Medical
Services which began  in June.  The UK events  security business  successfully 
supported the UK Police  Service of Northern Ireland  (PSNI) at the G8  Summit 
held at  Lough  Erne  in Northern  Ireland  in  June, delivering  a  range  of 
specialised security  solutions,  including  stewarding,  monitoring  of  site 
perimeters, custody facilities and securing access to venues. We have also won
a number of new  contracts to provide security  at high profile events  across 
the UK. We have been shortlisted on a number of opportunities for residential
smart meter  installation and  expect  to be  informed  whether we  have  been 
successful before the end ofthe year.

We have  renewed and  extended a  global  contract with  amajor oil  and  gas 
company, covering 32  countries. The new  contract is for  five years with  an 
option to  extend for  a further  two, worth  approximately $100  million  per 
annum. It will create  opportunities for organic growth  and will see us  work 
with the customer in new territories such as Brazil and Argentina.

In July, the UK Ministry of Justice  (MoJ) announced that it believes we  have 
overbilled for Electronic Monitoring  services. G4S has  engaged the law  firm 
Linklaters to review these  billings. In the event  that G4S becomes aware  of 
any evidence  of misconduct  then  appropriate action  will  be taken  by  the 
company including, where applicable, referral to the relevant authorities.  We 
will also  reimburse the  MoJ any  amounts found  to have  been overpaid.  In 
August, G4S advised the MoJ that it had withdrawn from the bidding process for
the next generation of electronic monitoring contracts.

Trading conditions in  Ireland remain challenging  in 2013 and  in response  a 
restructuring programme has been initiated in the cash solutions business.  We 
expect the business to return to profitability in 2014 and improve further  in 
2015. 

OTHER FINANCIAL ISSUES

Risks and uncertainties

A discussion of  the group's  risk assessment  and control  processes and  the 
principal risks and uncertainties that could affect the business activities or
financial results is detailed on pages 46,47 and 67,68 of the company's annual
report for the  financial year  ended 31  December 2012,  a copy  of which  is 
available on the group's website at www.g4s.com.

The group's credit risk profile was assessed by Standard & Poor's and  revised 
from BBB- to to BBB-  (Negative) on 30 May 2013.  Apart from this change,  the 
business risks  and uncertainties  are  expected to  remain broadly  the  same 
during the remaining six months of the financial year.

Credit facilities

The group's credit rating was revised by Standard & Poor's to BBB-  (Negative) 
on 30 May 2013.

The group has no material debt maturities  until March 2016 and has a  diverse 
range of finance providers. Borrowings are principally in pounds sterling,  US 
dollars and euros reflecting the geographies of significant operational assets
and profits.

The group's main  sources of finance  and their applicable  rates are set  out 
below:

(i) A £1.1bn multicurrency revolving credit facility provided by a  consortium 
of lending banks  at a margin  of 0.95% over  Libor and maturing  on 10  March 
2016. As at 30 June 2013 the drawings were US$ 160m, Euro 70m and £170m.

(ii) A US$  550m private  placement of  notes issued  on 1  March 2007,  which 
mature at various  dates between  2014 and 2022,  and bear  interest at  rates 
between 5.77% and 6.06%.

(iii) US$ 514m and £69m private placement notes issued on 15 July 2008,  which 
mature at  various dates  between 2013  and 2020  and bear  interest at  rates 
between 6.09% and 7.56%.

(iv) A £350m Public  Note issued on  13 May 2009 bearing  an interest rate  of 
7.75%, maturing 13 May 2019.

(v) A Euro 600m Public Note issued on  2 May 2012 bearing an interest rate  of 
2.875%, maturing 2 May 2017.

(vi) A Euro 500m  Public Note issued  on 6 December  2013 bearing an  interest 
rate of 2.625%, maturing       6 December 2018.

As of 30 June 2013 unutilised  committed facilities were £765m. The group  has 
sufficient borrowing capacity to finance its current investment plans.

G4S plc

Unaudited half-yearly results announcement

        For the six months ended 30 June 2013

Directors' responsibility  statement in  respect  of the  half-yearly  results 
announcement

We confirm that to the best of our knowledge:

  *this condensed set of financial statements has been prepared in accordance
    with International Accounting Standard (IAS) 34 Interim Financial
    Reporting as adopted by the EU

  *the half-yearly report includes a fair review of the information required
    by:

a.DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication
    of important events that have occurred during the first six months of the
    financial year and their impact on the condensed set of financial
    statements; and a description of the principal risks and uncertainties for
    the remaining six months of the year; and

b.DTR 4.2.8R of the Disclosure and Transparency Rules, being related party
    transactions that have taken place in the first six months of the current
    financial year and that have materially affected the financial position or
    performance of the entity during that period; and any changes in the
    related party transactions described in the last annual report that could
    do so. 

The responsibility statement is signed by:

Ashley Almanza   

Group Chief Executive       

G4S plc
Unaudited half-yearly results announcement
For the six months ended 30 June 2013

Consolidated income statement
For the six months ended 30 June 2013

                                               Six months ended 30.6.13
                          Underlying                  Non-underlying     Total
                             results                       items
                                      Acquisition Restructuring Impairment
                                        items and         costs    & other
                                     discontinued                    items
                                       operations
                    Notes         £m           £m            £m         £m      £m
Continuing
operations
Revenue               2        3,648            -             -          -   3,648
Profit from                                                          (132)
operations before
amortisationand
impairmentof
acquisition-related
intangible assets
(PBITA)               2          201            -           (4)                 65
Amortisation and                   -         (37)             -       (48)    (85)
impairment of
acquisition-related
intangible assets
Acquisition-related                -          (2)             -          -     (2)
expenses
Profit/(loss) from               201         (39)           (4)      (180)    (22)
operations before
interest and        2, 3
taxation (PBIT)
Finance income        6            8            -             -          -       8
Finance costs         7         (73)            -             -          -    (73)
Profit/(loss) from               136         (39)           (4)      (180)    (87)
operations before
taxation (PBT)
Taxation:
 Before amortisation of       (33)            -             1          3    (29)
acquisition-related
intangible assets
- On amortisation                 -           10             -          -      10
of
acquisition-related
intangible assets
                    8           (33)           10             1          3    (19)
Profit/(loss) from               103         (29)           (3)      (177)   (106)
continuing
operations after
taxation
Loss from                          -          (5)             -       (85)    (90)
discontinued
operations
Profit/(loss) for                103         (34)           (3)      (262)   (196)
the period
Attributable to:
Equity holders of                 93         (34)           (3)      (262)   (206)
the parent
Non-controlling                   10            -             -          -      10
interests
Profit/(loss) for                103         (34)           (3)      (262)   (196)
the period
Earnings per share
attributable to
ordinary equity
shareholders of the 9
parent from
continuing and
discontinued
operations
Basic and diluted               6.6p                                       (14.7)p
Dividends proposed
in respect of the   10
period
Interim dividend                                                             3.42p

Consolidated income statement
For the six months ended 30 June 2012

                                                                        Six
                                                                      months
                                                                       ended
                                                                     30.6.12 -
                                                                     restated
                                                Non-
                                             underlying
                                               items
                                                        Exceptional
                                                           items
                            Acquisition  Impairment
                    Under-     items        and         Re-
                     lying      and        other    structuring Olympics Total
                    Results discontinued   items       costs
                             operations
              Notes      £m           £m         £m          £m       £m    £m
Continuing
operations
Revenue         2     3,369            -          -           -       80 3,449
Profit
from
operations
before
amortisation
of
acquisition-
related
intangible
assets
(PBITA)         2       200            -         19        (22)     (50)   147
Amortisation
of
acquisition-
related
intangible
assets                    -         (44)          -           -        -  (44)
Acquisition-
related
expenses                  -          (1)          -           -        -   (1)
Profit
from
operations
before
interest      2, 3
and
taxation
(PBIT)                  200         (45)         19        (22)     (50)   102
Finance         6
income                    7            -          -           -        -     7
Finance         7
costs                  (61)            -          -           -        -  (61)
Profit
from
operations
before
taxation
(PBT)                   146         (45)         19        (22)     (50)    48
Taxation:
 Before
amortisation
of
acquisition-
related
intangible
assets                 (32)            -        (4)           3       10  (23)
- On
amortisation
of
acquisition-
related
intangible
assets                    -           12          -           -        -    12
              8        (32)           12        (4)           3       10  (11)
Profit/(loss)
from
continuing
operations
after
taxation                114         (33)         15        (19)     (40)    37
Loss
from         4
discontinued
operations                -          (6)          -           -        -   (6)
Profit
or the
period                  114         (39)         15        (19)     (40)    31
Attributable
to:
Equity
holders
of the
parent                  105         (39)         15        (19)     (40)    22
Non-
controlling
interests                 9            -          -           -        -     9
Profit
for the
period                  114         (39)         15        (19)     (40)    31
Earnings
per share
attributable
to
ordinary
equity
shareholders  9
of
the parent
from
continuing
and
discontinued
operations
Basic
and diluted            7.5p                                               1.6p
Dividends
declared
in respect    10
of
the period
Interim
dividend                                                                 3.42p

Consolidated income statement
For the year ended 31 December 2012

                                                                 Year ended 31.12.12
                                                                      - restated
                                                 Non-underlying
                                                      items
                                                               Exceptional
                                                                  items
                                    Acquisi-
                          Under-      tion      Impairment     Re-
                           lying      Items        and     structuring Olympics Total
                          Results      and        other       costs
                                  dis-continued   items
                                   operations
                    Notes      £m            £m         £m          £m       £m    £m
Continuing
operations
Revenue               2     6,906             -          -           -      204 7,110
Profit
from
operations
before
amortization
of
acquisition-related
intangible
assets
(PBITA)               2       466             -         24        (42)     (88)   360
Amortisation
of
acquisition-
related
intangible
assets                          -          (84)          -           -        -  (84)
Acquisition-
related
expenses                        -           (7)          -           -        -   (7)
Profit on
disposal
of
assets
and
subsidiaries                    -             5                                     5
Profit
from
operations
before
interest            2, 3
and
taxation
(PBIT)                        466          (86)         24        (42)     (88)   274
Finance               6
income                         12             -          -           -        -    12
Finance               7
costs                       (129)             -          -           -      (3) (132)
Profit
from
operations
before
taxation
(PBT)                         349          (86)         24        (42)     (91)   154
Taxation:
 Before
amortisation
of
acquisition-
related
intangible
assets                       (83)             -        (5)           6       15  (67)
- On
amortisation
of
acquisition-
related
intangible
assets                          -            25          -           -        -    25
- On
acquisition-
related
expenses                       -             2          -           -        -     2
                      8      (83)            27        (5)           6       15  (40)
Profit/(loss)
from
continuing
operations after
taxation                      266          (59)         19        (36)     (76)   114
Loss
from                  4
discontinued
operations                      -          (52)          -           -        -  (52)
Profit
for the
period                        266         (111)         19        (36)     (76)    62
Attributable
to:
Equity
holders
of the parent                 244         (111)         19        (36)     (76)    40
Non-
controlling
interests                      22             -          -           -        -    22
Profit
for the
period                        266         (111)         19        (36)     (76)    62
Earnings
per
share
attributable
to ordinary
equity
shareholders
of                  9
the
parent
from
continuing
and
discontinued
operations
Basic and diluted           17.4p                                                2.9p
Dividends declared
In
respect             10
of
the
period
Interim
dividend                                                                        3.42p
Final
dividend                                                                       5.54p
Total
dividend                                                                        8.96p

Condensed consolidated statement of comprehensive income
For the six months ended 30 June 2013

                                    Six months ended Six months ended     Year
                                                                         ended
                                            30.06.13         30.06.12 31.12.12
                                                  £m               £m       £m
(Loss)/profit for the period                   (196)               31       62
Other comprehensive income
Items   that    will   never    be 
reclassified to profit or loss:
Actuarial    gains/(losses)     on                19             (17)    (167)
defined retirement benefit schemes
Tax on  items that  will never  be               (4)                3       32
reclassified to profit or loss
                                                  15             (14)    (135)
Items   that   are   or   may   be 
reclassified    subsequently    to 
profit or loss:
Exchange      differences       on                28             (49)     (95)
translation of foreign operations
Change in fair value of cash  flow                44             (11)     (10)
hedging financial instruments
Tax on items  that are  or may  be                 -                -        3
reclassified    subsequently    to 
profit or loss
                                                  72             (60)    (102)
Other comprehensive income, net of                87             (74)    (237)
tax
Total comprehensive income for the             (109)             (43)    (175)
period
Attributable to:
Equity holders of the parent                   (123)             (52)    (194)
Non-controlling interests                         14                9       19
Total comprehensive income for the             (109)             (43)    (175)
period

Condensed consolidated statement of changes in equity
For the six months ended 30 June 2013

                                    Six months ended Six months ended     Year
                                                                         ended
                                            30.06.13         30.06.12 31.12.12
                                                  £m               £m       £m
At beginning of period                         1,176            1,494    1,494
Total comprehensive income
attributable to equity
shareholders of the parent                     (123)             (52)    (194)
Dividends declared                              (80)             (72)    (120)
Own shares purchased                               -              (6)      (6)
Equity settled transactions                        1              (1)        -
Transactions with non-controlling                (4)                -        2
interests
At end of period                                 970            1,363    1,176

Condensed consolidated statement of financial position
At 30 June 2013

                                                       As at    As at    As at
                                                    30.06.13 30.06.12 31.12.12
                                              Notes       £m       £m       £m
ASSETS
Non-current assets
Goodwill                                               2,018    2,182    2,121
Other acquisition-related intangible assets              165      219      208
Other intangible assets                                   83       80       87
Property, plant and equipment                            509      516      512
Investment in associates                                   3        8        3
Trade and other receivables                              348      350      308
                                                       3,126    3,355    3,239
Current assets
Inventories                                              138      129      128
Investments                                               55       64       56
Trade and other receivables                            1,375    1,580    1,496
Cash and cash equivalents                                494      399      469
Assets classified as held for sale            11         366       28      229
                                                       2,428    2,200    2,378
Total assets                                           5,554    5,555    5,617
LIABILITIES
Current liabilities
Bank overdrafts                                         (25)     (32)     (17)
Bank loans                                              (15)     (46)     (18)
Loan notes                                             (106)        -     (40)
Obligations under finance leases                        (16)     (16)     (18)
Trade and other payables                             (1,155)  (1,289)  (1,238)
Provisions                                              (32)     (76)     (32)
Liabilities associated with assets classified 11       (144)     (16)     (52)
as held for sale
                                                     (1,493)  (1,475)  (1,415)
Non-current liabilities
Bank loans                                             (394)    (465)    (327)
Loan notes                                           (2,014)  (1,660)  (1,999)
Obligations under finance leases                        (37)     (48)     (43)
Trade and other payables                                (14)     (29)     (18)
Retirement benefit obligations                         (437)    (351)    (471)
Provisions                                             (126)    (119)    (113)
                                                     (3,022)  (2,672)  (2,971)
Total liabilities                                    (4,515)  (4,147)  (4,386)
Net assets                                             1,039    1,408    1,231
EQUITY
Share capital                                            353      353      353
Share premium and reserves                               617    1,010      823
Equity attributable to equity holders of  the            970    1,363    1,176
parent
Non-controlling interests                                 69       45       55
Total equity                                           1,039    1,408    1,231

Condensed consolidated statement of cash flow
For the six months ended 30 June 2013

                                                Six months Six months     Year
                                                     ended      ended    ended
                                                  30.06.13   30.06.12 31.12.12
                                          Notes         £m         £m       £m
(Loss)/profit from continuing operations              (87)         48      154
before taxation
Adjustments for:
Finance income                                         (8)        (7)     (12)
Finance costs                                           73         61      132
Depreciation of property, plant and                     60         59      117
equipment
Amortisation of acquisition-related                     37         44       84
intangible assets
Amortisation of other intangible assets                 12         11       22
Acquisition-related costs                                2          1        7
Other non-cash items                                     1        (1)        -
Impairment of goodwill and fixed assets                 71          -        -
Profit on disposal of subsidiaries                       -          -      (2)
Profit on disposal of property, plant                    -          -      (3)
and equipment
Operating cash flow before movements in                161        216      499
working capital
Net working capital movement                            57       (18)    (164)
Net cash flow from operating activities                218        198      335
of continuing operations
Net cash flow from operating activities                  3         14       37
of discontinued operations
Cash generated by operations                           221        212      372
Tax paid                                              (51)       (42)     (85)
Net cash flow from operating activities                170        170      287
Investing activities
Interest received                                       17          5        6
Cash flow from associates                              (9)          -        3
Net cash flow from capital expenditure                (80)       (60)    (137)
Net cash flow from acquisitions and                   (21)          2     (67)
disposals
Sale of trading investments                              5          6        -
Net cash used in investing activities                 (88)       (47)    (195)
Financing activities
Dividends paid to non-controlling                      (6)       (14)     (19)
interests
Dividends paid to equity shareholders of              (78)       (72)    (120)
the parent
Net movement in borrowings                              74         80      324
Transactions with non-controlling                      (2)          -        6
interests
Interest paid                                         (88)       (70)    (117)
Own shares purchased                                     -        (6)      (6)
Repayment of obligations under finance                 (8)       (10)     (22)
leases
Net cash flow from financing activities              (108)       (92)       46
Net movement in cash, cash equivalents and bank
overdrafts            12                  (26)         31      138
Cash, cash equivalents and bank                        472        370      370
overdrafts at the beginning of the
period
Effect of foreign exchange rate                         26       (31)     (36)
fluctuations on cash held
Cash, cash equivalents and bank                        472        370      472
overdrafts at the end of the period

For a reconciliation of net cash flow from operating activities of  continuing 
operations to net debt see page 26.
Notes to the half-yearly results announcement

1) Basis of preparation and accounting policies

These  condensed   financial  statements   comprise  the   unaudited   interim 
consolidated results of G4S plc ("the group") for the six months ended 30 June
2013. These half-yearly financial results  do not comprise statutory  accounts 
and should be read in conjunction with the Annual Report and Accounts 2012. 

The comparative figures for the financial year ended 31 December 2012 are  not 
the company's  statutory accounts  for  that year.  Those accounts  have  been 
reported on  by  the company's  auditor  and  delivered to  the  Registrar  of 
Companies. The report of the auditor was (i) unqualified, (ii) did not contain
a reference to any matters to which the auditor drew attention by emphasis  of 
matter without  qualifying  their  report,  and  (iii)  did  not  contain  any 
statement under section 498 (2) or (3) of the Companies Act 2006.

The financial information in these condensed financial statements for the half
years to 30 June 2013 and 30 June 2012 has been neither audited nor reviewed.

The half-yearly  results  have been  prepared  in accordance  with  the  going 
concern concept as the group believes it has adequate resources to continue in
operational existence for the foreseeable future.
  
The condensed  financial statements  of the  group presented  in this  interim 
announcement have been prepared  in accordance with  IAS 34 Interim  Financial 
Reporting as  adopted by  the  European Union,  and  with the  Disclosure  and 
Transparency  Rules  of  the  Financial  Services  Authority.  The  accounting 
policies applied are the same  as those set out  in the group's Annual  Report 
and Accounts  2012  except for  the  adoption of  IAS19(R)  Employee  Benefits 
Revised, IFRS13 Fair Value Measurement and the amendments to IAS1 Presentation
of Financial Statements as set out below.

During the period the group  adopted the revised employee benefits  accounting 
standard IAS19(R). As a result  the prior year PBITA  has reduced by £1m  for 
the 6 months to 30 June 2012 and by  £3m for the year to 31 December 2012  due 
to pension administration costs being reallocated to PBITA from their previous
classification in interest.  In addition pension  interest has been  restated 
for the change in calculation of  the net pensions interest charge,  resulting 
in an additional £3m  interest cost for the  6 months to 30  June 2012 and  an 
additional £6m interest costs for the year to 31 December 2012.  

The group also adopted IFRS13 Fair Value Measurement during the period however
this has not resulted in any significant impact on the comparative results for
the six months to 30 June 2012 or the year to 31 December 2012.

As a  result  of  the  amendments  to  IAS  1,  the  group  has  modified  the 
presentation of items  of comprehensive income  in its condensed  consolidated 
statement of comprehensive income, to  present separately items that would  be 
reclassified to profit or loss  in the future from  those that would never  be 
reclassified. Comparative income has  also been re-presented accordingly.  The 
adoption of the amendment  to IAS 1  has no impact  on the recognised  assets, 
liabilities and comprehensive income of the group.

The group reflects its business performance in the 'underlying results' column
of the consolidated income statement. To be able to provide readers with this
clear  and  consistent  presentation,  profits   or  losses  on  disposal   of 
subsidiaries and fixed assets,  acquisition items and discontinued  operations 
and non-underlying items  are reported separately  in the consolidated  income 
statement. Non-underlying items include restructuring costs, impairments  and 
other items and in the prior year included the Olympics contract. 

The comparative income  statement for the  six months ended  30 June 2012  has 
been re-presented for  operations qualifying  as discontinued  during the  six 
months ended 31  December 2012  and the  six months  ended 30  June 2013.  The 
comparative income statement  for the  year ended  31 December  2012 has  been 
re-presented for operations qualifying as  discontinued during the six  months 
ended 30 June 2013. For the six  months ended 30 June 2012, revenue has  been 
reduced by  £454m  and  PBT has  decreased  by  £9m compared  to  the  figures 
published previously. For the year ended  31 December 2012, revenue has  been 
reduced by £391m and PBT  has been decreased by  £11m compared to the  figures 
published previously.

The comparative consolidated statement of financial position as at 31 December
2012 has been  restated to reflect  (i) the completion  during the six  months 
ended 30 June 2013 of the  initial accounting in respect of acquisitions  made 
during the six months ended 30 June 2012, and (ii) adjustments made in the six
months to 30 June  2013 to the  preliminary assessment of  the fair values  of 
assets and liabilities acquired during the six months ended 31 December  2012. 
Adjustments made to the provisional calculation of the fair values of  assets 
and liabilities acquired amount to £2m, resulting in an equivalent decrease in
the reported value of goodwill. 

Notes to the half-yearly results announcement (continued)

2) Operating segments

The group operates on a worldwide  basis and derives a substantial  proportion 
of its revenue,  PBITA and  PBIT from each  of the  following five  geographic 
regions: Africa, the  Americas (including  Latin America),  Asia Middle  East, 
Continental Europe and UK & Ireland. For each of the reportable segments,  the 
group's CEO (the chief operating  decision maker) reviews internal  management 
reports on a regular basis. This presentation has been re-assessed during  the 
period to more  closely align with  the way the  group is now  managed and  to 
bring it  in  line  with  internal management  reporting  which  is  based  on 
geographical regions.

Segment information for continuing operations is presented below:

Segment revenue

Underlying revenue by reportable    Six months ended Six months ended     Year
segment                                                                  ended
                                            30.06.13         30.06.12 31.12.12
                                                             Restated Restated
                                                  £m               £m       £m
Africa                                           241              234      465
Americas                                         978              879    1,834
Asia Middle East                                 708              603    1,241
Continental Europe                               824              804    1,608
UK & Ireland                                     897              849    1,758
Total revenue                                  3,648            3,369    6,906

Segment result

Underlying PBITA by reportable      Six months ended Six months ended     Year
segment                                                                  ended
                                            30.06.13         30.06.12 31.12.12
                                                             Restated Restated
                                                  £m               £m       £m
Africa                                            20               16       35
Americas                                          50               49      113
Asia Middle East                                  50               45      100
Continental Europe                                45               49      109
UK & Ireland                                      60               62      155
Underlying PBITA before head
office costs                                     225              221      512
Head office costs                               (24)             (21)     (46)
Underlying PBITA                                 201              200      466
Result by business segment
Underlying PBITA                                 201              200      466
Impairment and other items                     (132)               19       24
Restructuring costs                              (4)             (22)     (42)
Olympics costs                                     -             (50)     (88)
Total PBITA                                       65              147      360
Amortisation of                                 (37)             (44)
acquisition-related intangible
assets                                                                    (84)
Acquisition-related expenses                     (2)              (1)      (7)
Goodwill impairment                             (48)                -        -
Profit on disposal of assets and                   -                -
subsidiaries                                                                 5
Total PBIT                                      (22)              102      274

Notes to the half-yearly results announcement (continued)

3) Profit from operations before interest and taxation

The income statement can be analysed as follows:

                                    Six months ended Six months ended     Year
Continuing operations                                                    ended
                                            30.06.13         30.06.12 31.12.12
                                                             Restated Restated
                                                  £m               £m       £m
Total revenue                                  3,648            3,449    7,110
Cost of sales: underlying                    (2,918)          (2,743)  (5,622)
Cost of sales: non-underlying                   (55)                -        -
Gross profit excluding Olympic                   675              706    1,488
costs
Administration expenses:                       (568)            (551)  (1,113)
underlying
Administration expenses:                        (81)             (53)    (106)
non-underlying
Goodwill impairment                             (48)                -        -
Profit from disposal of assets and                 -                -        5
subsidiaries
Profit from operations before                   (22)              102
interest and taxation                                                      274

Included  within  administration  expenses  is  the  amortisation  charge  for 
acquisition-related intangible assets. 

During the period the group has undertaken a thorough review of its assets and
liabilities applying balanced judgements to  the recoverability of assets  and 
the recognition of liabilities  and taking account of  known changes in  facts 
and circumstances. This review  has resulted in a  one-off charge of £132m  to 
PBITA and a £48m goodwill impairment  as a result of these revised  estimates, 
which have  been excluded  from the  underlying results  and are  analysed  as 
follows:



Impairment and other items        £m
Current asset write-downs         17
Creditors, claims and provisions  40
Impairment of fixed assets        23
Impairment of receivables         52
Total included in PBITA          132
Impairment of goodwill            48
Total impact on results          180

4) Discontinued operations

Operations  qualifying  as  discontinued  in  2012  included  the   electronic 
monitoring business in  the United States,  which was disposed  of during  the 
same period, and the  US Government Solutions  business. In 2013,  additional 
operations qualifying  as  discontinued  include  the  US  Regulated  Security 
business and the cash business in Canada.

5) Acquisitions

Current Period Acquisitions

During the  period the  group  made several  minor  acquisitions for  a  total 
purchase  consideration  of   £14m.  These  acquisitions   resulted  in   the 
recognition of £7m of  intangible assets and £3m  of goodwill. The group  has 
also incurred £2m  of acquisition related  costs during the  six months to  30 
June 2013.

Prior period acquisitions

The purchase consideration  and provisional fair  values of acquisitions  made 
during the financial year  to 31 December 2012  and their contribution to  the 
group's results for  the year are  set out  in the group's  Annual Report  and 
Accounts 2012. The group has  incurred £4m relating to acquisitions  completed 
in prior years which had been recognised previously as deferred consideration.

Notes to the half-yearly results announcement (continued)

6) Finance income

                      Six months ended Six months ended     Year
                                                           ended
                              30.06.13         30.06.12 31.12.12
                                               Restated Restated
                                    £m               £m       £m
Interest receivable                  8                7       12
Total finance income                 8                7       12

7) Finance costs

                                    Six months ended Six months ended     Year
                                                                         ended
                                            30.06.13         30.06.12 31.12.12
                                                             Restated Restated
                                                  £m               £m       £m
Total group borrowing costs                    (63)             (54)    (117)
Net finance costs on defined                    (10)              (7)     (15)
retirement benefit obligations
Total finance costs                             (73)             (61)    (132)

8) Taxation

                        Six months ended Six months ended     Year
                                                             ended
                                30.06.13         30.06.12 31.12.12
                                      £m               £m       £m
UK taxation                            5               18       18
Overseas taxation                   (24)             (29)     (58)
Total taxation expense              (19)             (11)     (40)

Notes to the half-yearly results announcement (continued)

9) Earnings per share attributable to ordinary shareholders of the parent

                                                Six months Six months     Year
                                                     ended      ended    ended
                                                  30.06.13   30.06.12 31.12.12
                                                             Restated Restated
                                                        £m         £m       £m
From continuing and discontinued operations
(Loss)/profit for the period attributable to                                40
equity holders of the parent                         (206)         22
Weighted average number of ordinary shares           1,403      1,404    1,403
Earnings per share from continuing and
discontinued operations (pence)
Basic and diluted                                  (14.7)p       1.6p     2.9p
From continuing operations
Earnings
Profit for the period attributable to equity                                40
holders of the parent                                (206)         22
Adjustment to exclude loss for the year from
discontinued operations (net of tax)                    90          6    52
Profit from continuing operations                    (116)         28       92
Earnings per share from continuing operations
(pence)
Basic and diluted                                   (8.3)p       2.0p     6.6p
From discontinued operations
Loss per share from discontinued operations
(pence)
Basic and diluted                                   (6.4)p     (0.4)p   (3.7)p
From underlying earnings
Earnings
Profit for the period attributable to equity                                40
holders of the parent                                (206)         22
Adjustment to exclude loss from discontinued                                52
operations                                              90          6
Adjustment to exclude amortisation and
impairment of acquisition-related intangible
assets (net of tax)                                     75         32       59
Adjustment to exclude acquisition-related                                    5
expenses (net of tax)                                    2          1
Adjustment to exclude profit on disposal of                                (5)
assets (net of tax)                                      -          -
Adjustment to exclude non-underlying items
(net of tax)                                           132         44       93
Underlying profit for the period attributable                              244
to equity holders of the parent                         93        105
Weighted average number of ordinary shares                               1,403
(m)                                                  1,403      1,404
Underlying earnings per share (pence)                 6.6p       7.5p    17.4p

10) Dividends

                                                Six months Six months     Year
                                                     ended      ended    ended
                                Pence       DKK   30.06.13   30.06.12 31.12.12
                            per share per share         £m         £m       £m
Amounts recognised as
distributions to equity
holders of the parent in
the period
Final dividend for the year      5.11    0.4544
ended 31 December 2011                                   -         72       72
Interim dividend for the
six months ended 30 June
2012                             3.42    0.3220          -          -       48
Final dividend for the year      5.54    0.4730
ended 31 December 2012                                  78          -        -
Total                                                   78         72      120

An interim dividend of 3.42p (DKK 0.2972)  per share for the six months  ended 
30 June 2013 will be paid on  18 October 2013 to shareholders on the  register 
on 13 September 2013.

Notes to the half-yearly results announcement (continued)

11) Disposal groups classified as held for sale

At 31 December 2012, disposal groups classified as held for sale included  the 
assets and liabilities associated with the US Government Solutions business. 

At 30  June 2013,  disposal groups  classified as  held for  sale include  the 
assets and liabilities associated with  the US Government Solutions  business, 
the US Regulated Security business and the cash business in Canada. A  further 
goodwill impairment of £80m relating to the US Government Solutions and the US
Regulated Security businesses has been recognised to bring the net assets down
to the latest estimated realisable value.

12) Analysis of net debt

A reconciliation of net debt to amounts in the condensed consolidated  balance 
sheet is presented below:

                                                       As at    As at    As at
                                                    30.06.13 30.06.12 31.12.12
                                                          £m       £m       £m
Cash and cash equivalents                                494      399      469
Investments                                               55       64       56
Net cash and overdrafts included within assets            12        3       30
held for sale
Net debt included within assets held for sale           (33)        -        -
Current liabilities
 Bank overdrafts and loans                           (146)     (78)     (75)
 Obligations under finance leases                     (16)     (16)     (18)
 Fair value of loan note derivative financial           12       14        6
instruments
Non-current liabilities
 Bank loans                                          (394)    (465)    (327)
 Loan notes                                        (2,014)  (1,660)  (1,999)
 Obligations under finance leases                     (37)     (48)     (43)
 Fair value of loan note derivative financial          117      104       99
instruments
Total net debt                                       (1,950)  (1,683)  (1,802)

13) Related party transactions

No related party transactions have taken place in the first six months of  the 
current financial year which have  materially affected the financial  position 
or the performance of the group during that period. The nature and amounts of
related party transactions in  the first six months  of the current  financial 
year are  consistent with  those reported  in the  group's Annual  Report  and 
Accounts 2012.

Non GAAP measures

Net cash flow reconciliation to net debt

A reconciliation of net cash generated by continuing operations to movement in
net debt is presented below:

                                    Six months ended Six months ended     Year
                                                                         ended
                                            30.06.13         30.06.12 31.12.12
                                                  £m               £m       £m
Net cash generated by continuing
operations                                       218              198      335
Net cash from discontinued                         3               14       37
Net cash generated by operations                 221              212      372
Tax paid                                        (51)             (42)     (85)
Net cash flow from operations                    170              170      287
Investment in the business:
Capital expenditure                             (80)             (60)    (137)
New finance leases                              (12)             (11)     (21)
Acquisitions                                    (26)                2     (68)
Net investment in the business                 (118)             (69)    (226)
Net cash flow after investment in
the business                                      52              101       61
Net interest paid                               (71)             (65)    (111)
Total dividends paid                            (84)             (86)    (139)
Other financing transactions                    (11)              (6)        3
Net cash flow after investment and
financing                                      (114)             (56)    (186)
Translation adjustments                         (34)             (11)        -
Net debt at beginning of period              (1,802)          (1,616)  (1,616)
Net debt at end of period                    (1,950)          (1,683)  (1,802)

Group's definition of net debt to EBITDA

The group's calculation  of net  debt to EBITDA  using its  own definition  is 
presented below:

                              Six months    Year to 31 Six months   Rolling 12
                                ended 30 December 2012   ended 30 months to 30
                               June 2012                June 2013    June 2013
                                      £m            £m         £m           £m
Underlying PBITA                     200           466        201          467
Add back:
Depreciation                          59           117         60          118
Amortisation of
non-acquisition related
intangible assets                     10            22         12           24
EBITDA                               269           605        273          609
Add back:
Pre-acquisition EBITDA of
acquisitions (Deposita)                                                      1
Adjusted 12 month rolling
EBITDA to 30 June 2013                                                     610
Net debt per Note 12                                                     1,950
Group's definition of Net
debt:EBITDA ratio                                                         3.2x

For further enquiries, please contact:
Helen Parris                 Director of Investor Relations   
 +44 (0) 1293 554400

Media enquiries:

Adam Mynott                Director of Media Relations     
 +44 (0) 1293 554400
Piers Zangana                Media Relations Manager      
+44 (0) 1293 554400
Faeth Birch                  RLM Finsbury         
  +44 (0) 207 251 3801    
      

High resolution images are available for  the media to view and download  free 
of charge from www.vismedia.co.uk.

Notes to Editors:
G4S is  a  leading  international secure  outsourcing  solutions  group  which 
specialises in outsourced business processes  and facilities in sectors  where 
security and safety risks are considered a strategic threat.

G4S is quoted on the London Stock Exchange and has a secondary stock  exchange 
listing in  Copenhagen. G4S  is active  in  more than  120 countries  and  has 
620,000 employees. For more information on G4S, visit www.g4s.com.

Presentation of Results:

A presentation to investors and analysts  is taking place today at 0900hrs  at 
the London Stock Exchange. 

Webcast

http://view-w.tv/p/707-803-12766/en

Telephone Dial-in Facility

The details for the telephone dial-in facility are as follows:

Standard International Access : +44 (0) 20 3003 2666
Denmark Toll Free : 8088 8649
UK Toll Free : 0808 109 0700
USA Toll Free : 1 866 966 5335

Password : G4S

Replay Details

To listen to a replay of the  presentation which will be available for 7  days 
after the event, here are the details:

Standard International Access: +44 (0) 20 8196 1998
Denmark Toll Free: 8088 7109
UK Toll Free: 0800 633 8453
USA Toll Free: 1 866 583 1035

Access PIN: 3115133

Dividend payment information
Ex date - Wednesday 11 September 2013
Record date - Friday 13 September 2013
Pay date - Friday 18 October 2013

Q3 IMS and Strategy Update

A presentation for the Q3 2013  trading update and group strategy update  will 
be held in London on 5^th November 2013.

LEGAL DISCLAIMER

Certain statements in this  announcement are forward-looking statements  which 
are based on the Company's expectations, intentions and projections  regarding 
its future performance, anticipated  events or trends  and other matters  that 
are not  historical facts.  These forward-looking  statements, which  may  use 
words such  as  "aim",  "anticipates",  "believe"",  ""intend"",  "estimate"", 
""expect"" and words  of similar  meaning, include  all matters  that are  not 
historical  facts.  These  forward-looking   statements  involve  risks,   and 
uncertainties that could  cause the  actual results  of operations,  financial 
condition, liquidity, dividend policy and  the development of the industry  in 
which the Company's business operates to differ materially from the impression
created by the forward-looking statements. These statements are not guarantees
of  future  performance  and   are  subject  to   known  and  unknown   risks, 
uncertainties and  other factors  that could  cause actual  results to  differ 
materially from those expressed or implied by such forward-looking statements.
Given these risks  and uncertainties,  investors are cautioned  not to  place 
undue reliance  on  forward-looking  statements.  Forward-looking  statements 
speak only as of the  date of such statements and,  except as required by  the 
FCA, the London Stock  Exchange or applicable law,  the Company undertakes  no 
obligation to  update  or  revise  publicly  any  forward-looking  statements, 
whether as a result of new information, future events or otherwise.

The new ordinary shares have not been and will not be registered under the  US 
Securities Act of  1933, as amended,  and may not  be offered or  sold in  the 
United States absent registration or an applicable exemption from registration
requirements.

------------------------------------------------------------------------------

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The owner of this announcement warrants that:
(i) the  releases  contained  herein  are protected  by  copyright  and  other 
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality  of 
the
information contained therein.

Source: G4S plc UK DK via Thomson Reuters ONE
HUG#1725222
 
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