Security services firm The Brink's Co. (BCO) reported that an armed gang, on February 18th, attacked a Swiss-bound plane at the airport in Brussels, Belgium, and stole an unconfirmed amount of diamonds, a portion of which was being shipped by Brink's, with no injuries being reported.
The company has a longstanding insurance program in place to cover its losses. The total loss exposure has not been verified, and the loss exposure for Brink's has not been disclosed. Brink's has notified all of its customers affected by the robbery, who would be promptly reimbursed for all confirmed losses.
While the company expects the loss to have a significant impact on its first-quarter earnings, the robbery does not materially affect its annual profit forecast. Consequently, the company confirmed its full-year outlook, which called for a segment profit margin between 6.0% and 6.5% on organic revenue growth of 5% - 8%.
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