Garda posts strong Q2 earnings

Company nets $4M in revenue despite weak economy


Garda, a Canada-based provider of physical security and cash logistic services, announced its financial results for the second quarter of 2009 this week and despite a weakened global economy, the company saw a net income of $4 million and overall revenue growth of 1.5 percent.

In a prepared statement, Garda CEO Stephan Cretier attributed the company’s performance to its “focus on execution and increased service levels.”

"We have made excellent progress in reducing our debt thus strengthening our financial flexibility. We will continue to benefit from cost controls and improved efficiencies that we have achieved since the beginning of the year. The discipline and rigor of these initiatives are now part of our business model for continuous improvement of all our business units. We remain prudent but as business conditions improve, Garda's operational business units are well positioned to capitalize on market opportunities," he said.