G4S has swung to an annual loss after being hit by £291 million of impairment charges, despite hailing a jump in revenues.
The outsourcing firm reported a 4.7% increase in underlying revenue to £7.7 billion for 2019, which it said was driven by major investment in technology.
However, it swung to a £91 million statutory loss for the year from an £81 million profit in 2018, after it was hit by the £291 million impairment charge related to its cash business.
Last month, the company secured a £660 million deal to sell its cash-handling business to US-based The Brink Company as it looked to simplify its operations.
It said the sale was a "major milestone" which will bolster its financial position and provide profits of around £300 million in 2020.
G4S said the cash business reported 1% growth over the past year, compared with 18% growth in its retail technology arm and 4.7% growth in its security solutions division.
The company added that it remains confident in its outlook for the year despite uncertainty over the impact of the recent Covid-19 outbreak.
Group chief executive Ashley Almanza said: "Whilst there is clearly near-term uncertainty about the impact of the coronavirus on the global economy, the effect on the group has, to date, been immaterial.
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"We will continue to closely monitor the development and impact of the coronavirus and take mitigating actions as required.
"The long-term, fundamental strength of the global security market, together with the competitive strength of our secure solutions and retail technology solutions businesses, underpins our confidence in the outlook for the group."