G4S donates £2m to army charity after "shambles" G4S, the company at the heart of the Olympic security fiasco, has revealed that it fulfilled just 83 per cent of its contract for the 2012 Games. Giving evidence to the Commons Home Affairs Committee yesterday executives confirmed that they would be making a £50 million loss from the contract and handing £2.5m to veterans charities in recognition for the army stepping in to fill the gap. The company's chief executive Nick Buckles told MPs that G4S fulfilled only 83 per cent of contracted shifts at the Games, and provided 7,800 staff out of a contract that demanded 10,400. The government put another 4,700 military personnel on stand-by, on top of 13,500 initially committed, after G4S admitted its shortfall. As part of its future strategy it has already ruled itself out of bidding for the Rio 2016 Olympics security contracts. Mr Buckles said most of the £90m paid to G4S so far had gone on salaries and other costs. He said: "I'm not going to sit here and say we did a great job. But we delivered a significant portion of that contract and our people did an excellent job and played a major part in delivering these Games. We are planning to take a £50m loss on this contract. G4S has delivered a number of public sector contracts including the country's first private prison, and services for Lincolnshire police, and Mr Buckles told MPs he hopes the firm's track record will help it recover after the fiasco. He said: "We hope that our long term track record will stand us in good stead. We're not going to say it's not going to damage our reputation. An internal review is now being carried out, which could affect whether Mr Buckles remains in his job.