Securicor Security fared better, posting an increase in profits of 24% to £30.1 million based on a turnover of £453.4 million. This compares favourably with the £262.8 million result in the same period of 2000. Company spokesmen are putting the increase down to the manned guarding giant's ongoing programme of acquisitions.
Securicor Cash Services also enjoyed a successful period, but Securicor Guarding has experienced a reduction in its profit margins due to competitive pressures on pricing. According to the Chairman's Statement, the company has started planning for the introduction of the increased minimum wage slated for late 2001.
The results were published just prior to Roger Wiggs' announcement that he will soon retire as Group chief executive, to be replaced by current chief executive of the Security Division, Nick Buckles (see 'Appointments' on page 57 of this month's edition of SMT for further details).
Source
SMT