Business is looking up for Group 4 Securicor
September 23, 2004
LONDON - Group 4 Securicor reported this week that business has grown five percent and that the integration of Group 4 FalckÃ¢â‚¬â„¢s security business with that of SecuricorÃ¢â‚¬â„¢s is going as planned.
In its financial statement for the first half of the calendar year, company officials said its Wackenhut guard business in the United States experienced organic growth of 6 percent. Some of that is thanks to the company winning several large contracts with Fleet Bank, (itÃ¢â‚¬â„¢s spelled like this DaimlerChrysler and General Electric, for example.
But despite the upswing in most of its business, Group 4 Securicor reported some challenges. Namely, company officials said that while its U.K. business has improved, the company has experienced price pressures in the retail market. In Germany, the company said the market is facing a price deflation for overall guarding services.
Group 4 Falck and SecuricorÃ¢â‚¬â„¢s security businesses came together in July to form Group 4 Securicor. The result is the second largest security companies worldwide, with $7 billion in annual sales.
Company officials said the financial statement combined the performances of each business prior to the merger.