Appropriation of profit and discharge from liability
Securitas AB Interim Report Q1 2024 January-March
(Reuters) -Core profit at Sweden's Securitas rose 8% in the first-quarter year on year as expected on Wednesday but a dip in its profit margin in Europe on integration costs and challenges in airport security staffing knocked its share price. The results were led by its performance in North America while the 5.0% margin it reported in Europe came in below the 5.1% a year ago, sending shares down around 4% by 0800 GMT. "The margin in the European business actually disappointed and fell year over year, and I think that's seen a little bit negatively by the market," Kepler Cheuvreux analyst Johan Eliason said.