Prosegur Delivers Amid Strong Foreign Exchange Headwinds
Security specialist Prosegur, the only security company in the business services sector to which we have awarded a narrow moat rating, delivered a solid first half. While adverse currency movements had a heavy impact over the period, organic revenue growth continued its strong trajectory, hitting 8.4%, while EBIT margins improved by 40 basis points to 9%. This pattern of margin improvement we have witnessed in recent years is predicated on operational improvement in Prosegur's guarding business ...Prosegur, Compania de Seguridad and its subsidiaries are engaged in the provision of security guards and related services; fund transport and handling through a fleet of armored vehicles; alarm and electronic security systems; distribution and auxiliary services, including storage, logistics and distribution services; document transport and courier services; cleaning services and temporary employment. Co. is also engaged in security consulting and external training.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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