Sweden's Securitas set for best day in 2 years on Q3 core profit beat

Securitas AB

06/11/2024 08:38

** Securitas  SECUb.ST  jumps 9% on bigger-than-expected
increase in Q3 core profit, mainly on improved performance in
Europe
    ** Shares are on track for a best day in two years
    ** DNB analyst Karl-Johan Bonnevier said the Swedish
security company's strong results also show its US performance
is solid at a high level
    ** Adds, "Underlying FCF generation is very strong, further
strengthening its financials. The strengthening US dollar this
morning is obviously also a bonus"
    ** Jefferies also notes strong airport security recovery and
a step up in high-margin extra sales as additional benefits
    ** Securitas says is on it's way to achieve its target of 8%
operating margin by the end of 2025


 (Reporting by Agnieszka Olenska and Jesus Calero)
 ((Agnieszka.Olenska@thomsonreuters.com;))