Manned-security provider SectorGuard has reported another good year to September, with turnover, profits and net assets all on the rise. Pre-tax profits moved from £742,000 to £885,000 on a 10.2% turnover hike to £14m and net assets improved 15.9% to £4.7m. Chief executive and 18% shareholder David Marks says SectorGuard is winning market share in London and the Home Counties as well as rolling its brand out regionally. New clients include the College of North West London and the School of Hygiene and Tropical Medicine in education, whose commercial wins range from MFI to Gainsborough Business Centres. Last March, SectorGuard announced the acquisition of Abbott Security Services' mobile patrol, key holding and alarm response services operations for £200,000 cash, fortifying its mobile and key holding services in and around London. Only last month, SectorGuard made two acquisitions in the Midlands, snaring Choice Security Services as well as the manned guarding, key holding and mobile patrol contracts of Nationwide (GB). Marks also says 'preparations are well under way' for licensing under the Private Security Industry Act, which will mean all security officers needing to hold a licence by March 2006. Despite the costs, Marks welcomes the move, which should drive out less professional players in the sector. We feel SectorGuard is a solid consolidation story with potential bid attractions down the line.

SectorGuard	AIM	£5.94m	1.50p	0.00p
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