ABM Industries sees shares value increase
March 5, 2009
NEW YORK — JanSan services firm ABM Industries saw a 24 percent increase in the value of its shares for the first quarter, according to Forbes magazine.
The earnings were linked to efforts to cost cuts and eliminate less profitable businesses and the completion of its $365 million buyout of Belize City-based OneSource, the story stated.
Henrik Slipsager, president and chief executive of ABM Industries, said: "All of our core businesses — janitorial, engineering, parking and security — grew their operating profits compared to the year-ago quarter, and the integration of OneSource continues to drive profitability."
Sales for the quarter were $887.5 million, the story noted.
ABM Industries forecasts earnings in the range of $1.25 to $1.35 per share for fiscal year 2009, the story added.
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