Advertisement
Singapore markets closed
  • Straits Times Index

    3,306.02
    +6.02 (+0.18%)
     
  • Nikkei

    38,596.47
    -36.55 (-0.09%)
     
  • Hang Seng

    18,028.52
    -306.80 (-1.67%)
     
  • FTSE 100

    8,237.72
    -34.74 (-0.42%)
     
  • Bitcoin USD

    64,226.93
    -855.42 (-1.31%)
     
  • CMC Crypto 200

    1,328.23
    -32.09 (-2.36%)
     
  • S&P 500

    5,464.62
    -8.55 (-0.16%)
     
  • Dow

    39,150.33
    +15.57 (+0.04%)
     
  • Nasdaq

    17,689.36
    -32.23 (-0.18%)
     
  • Gold

    2,335.30
    -33.70 (-1.42%)
     
  • Crude Oil

    80.64
    -0.65 (-0.80%)
     
  • 10-Yr Bond

    4.2570
    +0.0030 (+0.07%)
     
  • FTSE Bursa Malaysia

    1,590.37
    -2.32 (-0.15%)
     
  • Jakarta Composite Index

    6,879.98
    +60.66 (+0.89%)
     
  • PSE Index

    6,158.48
    -186.08 (-2.93%)
     

Securitas Q2 profit beats forecast

OSLO (Reuters) - Sweden's Securitas reported on Friday a bigger than expected rise in second-quarter core profit as earnings margins rose and said its high-margin technology and solutions business grew by 12%, sending the company's shares higher.

Operating profit before amortisation (EBITA) at the security services group rose to 2.62 billion Swedish crowns ($248.9 million) from a year-ago 1.76 billion, beating the average analyst forecast of 2.39 billion in a company-provided poll.

Securitas' operating profit margin stood at 6.6% in the April to June quarter, up from 5.8% in the first three months of the year and exceeding the 6.1% predicted by analysts.

"Organic sales growth in the group continued to be driven primarily by price increases, ­although volume growth was good within technology and solutions and in the airport security business," CEO Magnus Ahlqvist said in a statement.

ADVERTISEMENT

The company's share price, which had traded largely unchanged ahead of the earnings release, jumped on the news and stood 4.0% higher at 1112 GMT.

($1 = 10.5251 Swedish crowns)

(Reporting by Terje Solsvik; editing by David Evans)