International security and guard services company Securitas has released an interim fiscal report, and the company is spreading some good news. Third quarters sales were up by 4 percent to SEK 15,182 million (the SEK is the Swedish Kronor).
The company said in a statement that in the first 9 months of the year, sales increased by 3 percent to SEK 44,465 million (approximately USD $6.3 billion). The company said that organic sales growth was positive and improved over last year.
Operating income for Securitas increased by 20 percent in the third quarter from to SEK 1,063 million, and the operating margin increased to 7 percent. After adjusting for exchange rates, income before taxes increased by 35 percent, and earnings per share after taxes were up 32 percent.
"The third quarter confirms that Securitas is back to growth in both sales and income," said Securitas CEO Thomas Berglund in a statement released to investors and the media. "Our previous forecast for the full year of an increase in income before taxes of 15-20 percent, adjusted for changes in exchange rates, is maintained."
In the past year, Securitas acquired Bell and Eurotelis to push the company into a leadership position in terms of financial security in the UK and in France. This past quarter also saw the acquisition of Valiance Cash Handling Services, further pushing Securitas into the financial protection sector. In terms of U.S. operations, Securitas is just now emerging from the rebranding that the company underwent following multiple acquisitions, including Pinkerton.