Nov 7, 2017

G4S weighs on FTSE 100 as growth outlook cut

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. 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".

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