Garda World 2008 Financial Assessment

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Garda World 2008 Financial Assessment Description of the Firm and its Activities 3 Nature of the Industry and State of the Competition 4 Financial Risk Assessment 5 Garda Balance sheet overview and 2008 key facts 5 Liquidity Risk 6 Solvency Risk 6 Profitability 7 Recurring Earnings 8 Other factors 9 Foreign exchange risk 9 Variable interest rates on long-term debts 9 Recommendation 10 Description of the Firm and its Activities Garda is one of Canada’s fastest growing companies, providing integrated security services on a worldwide scale. With a revenue increase of 800% in the last ten years, reaching 1.17 billion CAD in 2008, Garda is the fifth largest security company in the world. Garda’s activities are divided mainly in two major divisions: • Physical security: Garda provides various services related to physical security including protection of public and private places or sensitive areas by uniformed guards (i.e. airport screening), in-store loss prevention, Executive & VIP protection, security patrols, and high-risk market security (i.e. military conflicts zones). • Cash and value logistics: with a fleet of more than 1500 armored vehicles and airplanes, Garda provides services related to cash and coin processing, ABM/ATM maintenance and management, locks and safes supply and management. Garda is also active in corporate consulting and investigation, as well as pre-employment screening. These combined divisions represent 15% of its annual revenue. Nature of the Industry and State of the Competition In the last decade, the security industry market grew fast and new business opportunities emerged in response to the tightening of security policies after September 2001 in both pub... ... middle of paper ... ... |6.74% |-18.91% | |Financing expenses |4.86% |2.41% |101.79% | |Income before income taxes |0.61% |4.33% |-85.91% | |Provision for (recovery of) income taxes |-0.73% |1.25% |-158.12% | |Net income for the year |1.34% |3.08% |-56.55% | |Market Cap | |Outstanding shares |30968000 | |Price at Jan 31, 2008 |14.61 | | |452442480 |

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