Garda World Financial Assessment 2008Description of the company and its activities 3Nature of the industry and state of competition 4Financial risk assessment 5Garda balance sheet overview and highlights of 2008 5Risk of liquidity 6 Solvency risk 6 Profitability 7 Recurring profit 8 Other factors 9 Foreign exchange risk 9 Variable interest rates on long-term debt 9 Recommendation 10 Description of the company and its activities Garda is one of the fastest growing companies in Canada, offering globally integrated security services. With an 800% increase in revenue over the past ten years, reaching CAD 1.17 billion in 2008, Garda is the fifth largest security company in the world. Garda's activities are divided primarily into two broad divisions:• Physical Security: Garda provides various services relating to physical security, including the protection of public and private places or sensitive areas by uniformed guards (i.e. . airport control), store loss prevention, executive and VIP services. protection, security patrols and security of high-risk markets (i.e. military conflict zones). and management, supply and management of locks and safes. Garda is also active in corporate advice and investigations, as well as pre-employment screening. These divisions combined represent 15% of its annual turnover. Nature of the sector and state of competition Over the past decade, the security industry market has grown rapidly and new business opportunities have emerged in response to the tightening of security policies after September 2001 in both sectors. ..... middle of paper ...... |6.74% |-18.91% ||Financing costs |4.86% |2.41% |101.79% ||Profit before tax |0.61% |4.33% |-85.91% ||Provision for (recovery) of income taxes |-0.73% |1.25% |-158.12% ||Net result of the financial year |1.34% |3.08% |-56.55% ||Market capitalization ||Shares outstanding |30968000 || Prices in January 31, 2008 |14.61 || |452442480 |