Security giant G4S is seeing double-digit growth in Latin America despite the economic slowdown.
BY JOACHIM BAMRUD
While most companies operating in Latin America are looking at a slowdown in revenues this year, at least one firm is actually projecting an improvement over 2008 – UK-based security firm G4S.
The firm expects to beat its Latin America revenue growth rate from last year, says Jeff Morrow, G4Ss regional president for Latin America.
“We should exceed sales growth of 2008,” he says. “We’re quite optimistic. We’ve done exceptionally well [during the first four months in] revenue growth and profitability.”
Part of the reason is that economic downturns spur greater demand for security services. “It’s an opportunity,” Morrow says. “We haven’t lost a single customer since the economic crisis started.”
However, while the company has seen good growth in most markets, the crisis has affected areas like Central America and the Caribbean due their heavy dependence on the weak U.S. economy or tourism, he points out.
G4S does not break down financial detail for regions, but its revenues grew by 14 percent in 2008, according to Morrow. The company...
Keywords: Argentina, Brazil, Chile, Colombia, Mexico, Peru