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Securitas Q1 core profit just below forecasts

Reuters

STOCKHOLM (Reuters) - Swedish security firm Securitas (SECUb.ST) reported core earnings just below market expectations on Wednesday and said it had balanced wage cost increases with price increases in the quarter.

The company reported first-quarter earnings before interest, taxes and amortisation (EBITA) of 1.09 billion Swedish crowns (90.2 million pounds), up from 1.06 billion in the year-ago quarter, and below the 1.12 billion forecast in a Reuters poll.

The rival of Britain's G4S (GFS.L) said organic sales grew 6 percent in the quarter, in line with forecasts.

Securitas shares were up 0.7 percent by 1106 GMT, compared with a 1.3 percent gain ahead of the results.

(Reporting by Johannes Hellstrom and Esha Vaish, editing by Helena Soderpalm)