Olympics contract loss costs security firm G4S millions
G4S' £70 million loss over its London 2012 Olympic and Paralympic contracts follows months of negotiations with Games organisers Locog.
The security group also incurred additional costs of around £18 million relating to charitable donations, fees and the cost of sponsorship and marketing.
– Chief executive Nick BucklesThe UK Government is an important customer for the group and we felt that it was in all of our interests to bring this matter to a close in an equitable and professional manner without the need for lengthy legal proceedings.
Read: G4S' failure to fulfil its Olympics contract during the London 2012 Games.
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