Chubb grows despite "subdued conditions"

Chubb's electronic security businesses, which account for approximately half of Group sales, continue to perform soundly with overall sales growth of 12 per cent.

The UK and Ireland region offers an extensive range of security services with the emphasis on electronic security, fire protection and security personnel. Sales from this region (which Chubb links with Southern Africa) provide the company with 28 per cent of its sales revenue. Divisional sales rose by five per cent at constant exchange rates to £210.6m.

Following the completion of last year’s withdrawal from a number of loss-making contracts within the UK guarding business, Chubb continues to focus on profitable contracts in the higher end of the market.

While revenues from the profitable alarm monitoring services in the UK have shown encouraging signs of development, growth in fire and electronic installations within segments in the UK and Ireland remains subdued, says the company.

Chief executive officer Robert Gasparini commented: “The security services market continues to offer attractive opportunities, despite uncertain global economic conditions.”