May 25, 2012 / 11:30 AM / in 6 years

UPDATE 1-Garda World profit rises on growth in emerging markets

May 25 (Reuters) - Canada’s Garda World Security Corp’s profit rose as its security solutions segment benefited from robust demand in emerging markets.

The company, which provides armored cars, cash-handling services and automated teller machine maintenance, said first-quarter net income rose to C$6.3 million, or 20 Canadian cents per share, from C$4.5 million, or 14 Canadian cents per share, last year.

Revenue rose 12 percent to C$321 million. Revenue from emerging markets at Garda’s security solutions arm rose 85 percent at C$36 million.

Shares of the Montreal-based company closed at C$7.31 on Thursday on the Toronto Stock Exchange.

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