LONDON (Alliance News) - FTSE 250-listed security services company G4S PLC said on Thursday it is started reviewing its options for the separation of its Cash Solutions businesses from the group.
Currently G4S has two business segments: Secure Solutions, which provides security services, and Cash Solutions, which provides cash management and payment services.
The group said it believes that a separation of the latter division would "enhance the focus and success of both businesses".
The review of options is expected to be completed in 2019, with an update to come with the group's full year results in March.
"The implementation of our new organisation structure in January this year enables us to consider this separation in order to enhance the strategic, commercial and operational focus of both Secure Solutions and Cash Solutions," said Chief Executive Ashley Almanza.
"The review of our separation options offers an exciting opportunity to enhance our focus for the benefit of customers, shareholders and employees. Our aim is to establish two strong, independent businesses that are able to take advantage of their leading market positions and excellent service offerings to deliver sustainable, profitable growth," Almanza added.
Shares in G4S were up 8.7% at 199.25 pence on Thursday, the second best performer in the FTSE 250.
