Global security contractor G4S has lost £50 million and seen a 60 percent dip in first-half profits after the Olympic failure.

The loss comes from payments for troop deployments, which has been partly responsible for a £151 million drop in revenue from the same time last year.

Nick Buckles, G4S chief executive, commented: “We were deeply disappointed that we had significant issues with the London 2012 Olympics contract and are very grateful to the military and the police for their support in helping us to deliver a safe and secure Games".