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SBD Global/February 13, 2013/Olympics
Security Firm G4S Reports That Olympics Fiasco Will Cost Firm More Than $138M
Published February 13, 2013
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BETTER THAN EXPECTED: The PA reported Cantor Fitzgerald research analyst Caroline de La Soujeole said that the total cost of £88M was "better than her estimate" of between £100-110M ($156-172M). She added, "In our view, this draws a line under the Olympics situation and will enable the company to win more government outsourcing contracts." LOCOG said that the taxpayer's interests "have been fully protected in compensating for the difficulties experienced by G4S's shortcomings" (PA, 2/12).