The previously announced programme to discontinue a number of loss-making contracts in its manned guarding business – Chubb Security Personnel – has now been concluded, resulting in an £8 million reduction in sales when compared with 2000.
Adjusting for both this fact and the impact of acquisitions, organic growth was 5%.
The divisional profit of the UK business increased by 11% to £39.7 million (and by 12% on an organic basis). The increase was underpinned by an improvement in Chubb Security Personnel’s profitability and the benefits of prior year cost reduction programmes. Adjusted divisional margin improved by 1.3% to 9.4%.
Source
SMT
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