Securitas Misses Expectations
The Swedish-based security services group Securitas has posted lower-than-expected first quarter earnings.
Pre-tax profit was 113 million dollars, up from a year ago, but below expectations. Group operating margin fell to 5.9 percent from 6.2 percent.
Securitas has been hit by contract losses at airports after it refused to accept unlimited liability in the event of terrorist attacks. The company also says it is considering selling its cash handling business, which has suffered from a series of high-profile robberies.