Securitas Q3 profit in line, cash flow drops (updated)

Securitas AB

07/11/2023 12:22

(Adds details in paragraph 2,3)
       STOCKHOLM, Nov 7 (Reuters) - Sweden's Securitas
 SECUb.ST  reported on Tuesday a rise in core profit that
matched expectations, driven by its technology and solutions
business, but saw sharply weaker cash flow year-on-year, sending
the company's shares down 7%.
        Free cash flow for the quarter stood at 1.53 billion
crowns, down from 2.44 billion during the same period of 2022,
hit by a weakening in accounts receivable.
  
    Operating profit before amortisation (EBITA) at the security
services group rose to 2.76 billion Swedish crowns ($252.77
million from a year-ago 2.33 billion, matching the average
analyst forecast of 2.77 billion in a company-provided poll.

 (Reporting by Marie Mannes, editing by Terje Solsvik)
 ((marie.mannes@thomsonreuters.com; +46 8 502 423 82;))