OSLO : Sweden's Securitas said on Wednesday it aims to increase the sales of its key technology and solutions business by 8-10 per cent per year following the recent acquisition of Stanley Black & Decker's electronic security unit.
"Given that it is not combined with a group target including the traditional manned guarding operation ... it's a little harder to make into a group forecast for comparison," DNB Markets analyst Karl-Johan Bonnevier said of the sales goal for the technology and solutions unit. The company on Wednesday also said it will aim for a group-wide operating profit margin before amortisation of 8 per cent by year-end 2025, with a long-term ambition of 10 per cent, up from 5.6 per cent last year thanks to cost cuts, increased market share and divestment.
Securitas in July bought Stanley Security for $3.2 billion in its biggest acquisition to date, bringing back activities it had floated as a standalone business in 2006 and which was bought by Black & Decker in 2011.
Source: News Formal (newsformal.com)
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