StockMarketWire.com - Security company G4S made the case for its retail cash solutions unit, which it said would target revenue in excess of $600 million by 2025 thanks to new business wins.

'We are highly confident in the ability of RCS to grow revenue at 25% per annum over the medium-term, attaining more than $600 million by 2025. And with a huge addressable market of $13 billion, RCS has significant further potential,' the company said.

The update came as the company seeks to fend off a 190p-a-share takeover offer from GardaWorld.

Following new contract wins for the business, around 85% of 2021 revenue was already committed, the company said.

G4S said it believed that the total addressable market in terms of revenue for the business was approximately $13.3 billion.

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