Bill Gates, co-founder of Microsoft Corporation (NASDAQ:MSFT) increased his stake in G4S plc (LON:GFS), one of the largest security firms worldwide.
The Bill and Melinda Gates Foundation and Cascade Investment, the charitable organization and investment management firm owned by Gates, respectively declared that its current stake in G4S plc (LON:GFS) is 3.2 percent.
Based on its filing with the Financial Services Authority (FSA) in the United Kingdom, Gates acquired an additional 6 million shares of G4S plc (LON:GFS), bringing its total stockholdings in the security firm to 38,754, 565 shares.
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The Bill and Melinda Gates Foundation has 1.6 percent voting rights and Cascade Investment also has 1.6 percent voting G4S plc (LON:GFS) rights.
G4S plc (LON:GFS) has a secondary listing in Copenhagen with operations in more than 125 countries worldwide. The security firm has 620,000 employees and specializes in outsourcing business process in industries where security and safety risks are considered a strategic threat. Some of its services include cash transportation and prison management.
G4S Showing Growth Despite Hiccups
The security firm signed a contract to provide 10,000 security personnel for £284 million ($440 million) during the Olympic Games in London. G4S plc (LON:GFS) was only able to provide 6,000 personnel, and British troops had to fill to provide adequate security for the event. The company incurred £50m from paying the personnel.
Last month, G4S plc (LON:GFS) announced the appointment of Ashley Almanza as the new chief executive of the company. Almanza succeeded Nick Buckles, who resigned from his position as CEO and retired as director.
During the first quarter of 2013, G4S plc (LON:GFS)’s revenue increased by 7.5 percent at constant exchange rates, and 7.7 percent at actual exchange rates compared with its performance in the same period a year earlier. Its operating margin was 0.6 percent lower than a year ago.
According to the company, its organic growth was 6 percent. Its growth in developing markets was 12 percent and 4 percent in developed countries.
Bill Gates Still Swinging at iPad, Defending Surface Pro
Meanwhile, Gates criticized Apple Inc. (NASDAQ:AAPL)’s iPad and defended the Surface and Surface Pro from Microsoft Corporation (NASDAQ:MSFT) early in May. According to him, the iPad is a flawed device and emphasized that the Windows 8 is a superior operating system for tablets.
Gates said Windows 8 “takes the benefits of a tablet and the benefits of a PC and it’s able to support both of those.” According to him, iPad users are frustrated because they can’t type and create documents because it doesn’t have Office.