Swedish Securitas Q2 '09 net profit up to SEK468.2m

Mon. August 10, 2009; Posted: 09:18 AM

San Jose, California, Aug 10, 2009 (M2 PRESSWIRE via COMTEX) -- SCTBF | Quote | Chart | News | PowerRating -- 7 August 2009 - Swedish security services group Securitas AB (STO: SECU B) said today its net profit grew to SEK468.2m in April-June 2009, undershooting the SEK505m market consensus.

In the corresponding period in 2008, the group posted a net profit from its continuing operations of SEK439m. Including discontinued operations, the net profit was SEK546.6m.

"The economic environment remains difficult and a large number of our customers are under continuous pressure to reduce costs, including their total spending in security," Securitas's CEO Alf Goransson said.

The company's sales grew to SEK15.907bn in April-June 2009 from SEK13.253bn a year earlier, but remained below the SEK16.246bn average forecast in the analyst poll by SME Direkt.

There was zero organic growth, which is in line with the security market development in North America and Europe and which reflects the customers' need for cost savings, Securitas said.

Securitas reported EBITA of SEK880m, up from SEK733m, while the consensus estimate was for SEK885m. Adjusted for currency effects, the growth was 2%.

Second-quarter EBITA margin was 5.5%, unchanged from a year earlier and slightly higher than the forecast for 5.4%.

Operating profit grew to SEK 845.8 million from SEK709.6m, outperforming the market consensus for SEK834m.

(EUR1 = SEK10.3)

Comments on this story may be sent to 
nbr.feedback@nordicbusinessreport.com

For full details for SCTBF click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.