In Q2 19, organic sales growth (+5% vs +7% in Q1 19) was impacted by a strong slowdown in Europe (+1% vs +4% in Q1 19) due to the loss of large guarding contracts in France and the UK. The group’s operating margin was flat (5% of sales), reflecting an improvement in North America and a lower margin in Europe due to the termination of contracts and wage increases in France and the Netherlands, and in the Ibero-America Security services division.
01 Aug 2019
Disappointing performance in Europe
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Disappointing performance in Europe
Securitas AB Class B (S7MB:FRA) | 0 0 0.6% | Mkt Cap: 47,995m
- Published:
01 Aug 2019 -
Author:
Hélène Coumes -
Pages:
3
In Q2 19, organic sales growth (+5% vs +7% in Q1 19) was impacted by a strong slowdown in Europe (+1% vs +4% in Q1 19) due to the loss of large guarding contracts in France and the UK. The group’s operating margin was flat (5% of sales), reflecting an improvement in North America and a lower margin in Europe due to the termination of contracts and wage increases in France and the Netherlands, and in the Ibero-America Security services division.