John Connolly, the chairman of G4S, has acknowledged that there involvement in the Olympic security crisis has damaged future public sector contract biddings.

Connolly, in an interview to the Sunday Times, said "If a contract was being given out by a government department or other large business at the moment, you can understand they would find it difficult to hand that contract to us."

G4S is currently bidding for multiple contracts in the UK public sector including prison and police services. The company has already withdrawn from bidding for security contracts for the 2014 World Cup in Brazil.