The loss of a few ¬?important contracts during the first half year 2011 has hampered the growth in Security Services Europe, according to the security company Securitas in its latest results….
Alf Göransson, President and Chief Executive Officer, said of the company’s interim report for January to September: "The operating margin remained stable in Security Services North America, Security Services Ibero-America and in Mobile and Monitoring, and the real change of the operating income in these segments compared to previous year was positive and developed well. In Security Services Europe, the loss of a few major contracts and difficulties to manage the balance between wage increases and price increases have resulted in a non- satisfactory development. A variety of actions are taken to restore the performance in Europe, and among others further reductions of indirect costs are made in a number of countries in Europe.<br><br>"Our strategy to focus and specialize in security services, and improving our ability to advise and optimize our customers security solutions, is progressing. After the attempt to acquire Niscayah in a public bid process, we are instead growing our system integration and technology resources organically and by short-listing potential acquisition targets. The first important acquisition along this route was made in Turkey in September." <br><br>The real sales growth continued to be strong also in the third quarter amounting to 13 percent, and to 12 percent in the first nine months. The organic sales growth reached 4 percent in the quarter and the company said it is gaining market shares organically in North and South America.
