Cellnet keeps Securicor on a healthy profit line

Securicor, the communications, security and parcels company, disclosed a 28 per cent jump in yearly taxable profits to £80.6m, the lion's share again flowing from Cellnet, its 40 per cent-owned mobile phone network.

Turnover was 25 per cent up at £800.3m. However, the robust contribution from the group's managed operations (BT is the 60 per cent shareholder and operator of Cellnet) impressed most company-watchers.

Patrick Hickey, an analyst at Henderson Crosthwaite, the stockbroker, said: "Although Cellnet will remain very important to Securicor,the managed businesses have done well. The managed arm now looks good." Profits this year should reach at least £103m, he predicted.

Securicor's 50.75 per cent-owned subsidiary, Security Services, advanced profits by 35 per cent to £58.4m.

While Cellnet profits rose 21 per cent to £55.9m (£46.3m), profits at the traditional security division moved ahead 32 per cent from £9.1m to £12m. The 60-year-old company began with ex-servicemen patrolling affluent areas of London on bicycles to protect properties.

Securicor now has 53 per cent of the UK cash transit market, moves 200,000 containers of foreign currency a month, and has been picking up overseas work such as advising the Colombian government on airport security. Last June the security division also began running a five-year Metropolitan Court escort and custody contract worth £96m. About 35,000 prisoner movements have been conducted so far.

Roger Wiggs, chief executive, said there was potential for Securicor in the increasing contracting out by the police of non-core services.

Securicor's parcels division made a strong profits advance from £5.7m to £9.9m. Securicor Pony Express opened the first six of 30 planned local franchise operations, while Scottish Express International, acquired at the beginning of the financial year toSeptember, opened two new English branches.

Business services, ranging from hotels to computer services, also boosted profits to £2.9m (£0.7m). An interesting indicator of apparent economic recovery was a 73 per cent leap in turnover at Securicor Recruitment Services.

Mr Wiggs said Securicor's position on its Cellnet stake was unchanged - a sale is not ruled out at the right price. Many observers believe the company will jettison its money-spinning investment to focus on managed businesses. Views differ on the timing,however.

Securicor's total dividend is 3.405p (2.961p) via a 2.6p final. The Security Services dividend is 6.537p (5.684p).

Start your day with The Independent, sign up for daily news emails
Arts and Entertainment
tvThe C-Word, TV review
Arts and Entertainment
The Ridiculous Six has been produced by Adam Sandler, who also stars in it
filmNew controversy after nine Native American actors walked off set
Danny Jones was in the Wales squad for the 2013 World Cup
rugby leagueKeighley Cougars half-back was taken off after just four minutes
Life and Style
The original ZX Spectrum was simple to plug into your TV and get playing on
techThirty years on, the ZX Spectrum is back, after a fashion
Tiger Woods and Lindsey Vonn are breaking up after nearly three years together
peopleFormer couple announce separation in posts on their websites
Life and Style
Google celebrates Bartolomeo Cristofori's 360th birthday
techGoogle Doodle to the rescue
Arts and Entertainment
Haunted looks: Matthew Macfadyen and Timothy Spall star in ‘The Enfield Haunting’
tvThe Enfield Haunting, TV review
The Mattehorn stands reflected in Leisee lake near Sunnegga station on June 30, 2013 near Zermatt, Switzerland
ebooksA celebration of British elections
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Claims Administrator

£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...

Recruitment Genius: Senior SEO Executive

£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...

Recruitment Genius: Online Customer Service Administrator

£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...

Recruitment Genius: Digital Marketing Executive

£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...

Day In a Page

'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power
Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

The price to be paid for challenging the rule of extremists

A revolution now 'consuming its own children'
Welcome to the world of Megagames

Welcome to the world of Megagames

300 players take part in Watch the Skies! board game in London
'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

Charlotte Gainsbourg on 'Nymphomaniac'

Starring in one of the most explicit films ever
Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

Robert Fisk in Abu Dhabi

The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

Vince Cable exclusive interview

Charging fees for employment tribunals was 'a very bad move'
Iwan Rheon interview: Game of Thrones star returns to his Welsh roots to record debut album

Iwan Rheon is returning to his Welsh roots

Rheon is best known for his role as the Bastard of Bolton. It's gruelling playing a sadistic torturer, he tells Craig McLean, but it hasn't stopped him recording an album of Welsh psychedelia
Russell Brand's interview with Ed Miliband has got everyone talking about The Trews

Everyone is talking about The Trews

Russell Brand's 'true news' videos attract millions of viewers. But today's 'Milibrand' interview introduced his resolutely amateurish style to a whole new crowd
Morne Hardenberg interview: Cameraman for BBC's upcoming show Shark on filming the ocean's most dangerous predator

It's time for my close-up

Meet the man who films great whites for a living
Increasing numbers of homeless people in America keep their mobile phones on the streets

Homeless people keep mobile phones

A homeless person with a smartphone is a common sight in the US. And that's creating a network where the 'hobo' community can share information - and fight stigma - like never before
'Queer saint' Peter Watson left his mark on British culture by bankrolling artworld giants

'Queer saint' who bankrolled artworld giants

British culture owes a huge debt to Peter Watson, says Michael Prodger
Pushkin Prizes: Unusual exchange programme aims to bring countries together through culture

Pushkin Prizes brings countries together

Ten Scottish schoolchildren and their Russian peers attended a creative writing workshop in the Highlands this week
14 best kids' hoodies

14 best kids' hoodies

Don't get caught out by that wind on the beach. Zip them up in a lightweight top to see them through summer to autumn
Robert Fisk in Abu Dhabi: The acceptable face of the Emirates

The acceptable face of the Emirates

Has Abu Dhabi found a way to blend petrodollars with principles, asks Robert Fisk