Financial Times FT.com

ArmorGroup hurt by costs of expansion

By William MacNamara

Published: September 20 2007 04:26 | Last updated: September 20 2007 04:26

Conflict in Iraq and other markets continued to drive interim sales growth at ArmorGroup, the UK-based private security force provider, although profits fell because of expansion costs in Afghanistan and Nigeria.

ArmorGroup said on Wednesday that profits would be “heavily weighted toward the second half of the year as significant new contracts won in the first half, and those we continue to win in the second, mobilise as expected”.

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