Bloomberg News

Brink’s Says Brussels Diamond Robbery Will Hurt Quarter’s Profit

February 20, 2013

Brink’s Co. (BCO:US), a provider of armored cars to transport valuables, said a diamond robbery at Brussels airport will have a “significant impact” on first-quarter earnings.

A portion of the gems stolen two days ago was being shipped by Brink’s, the Richmond, Virgina-based company said today in a statement. The Antwerp World Diamond Centre has said about $50 million of rough and polished diamonds were stolen as the gems were being loaded onto a plane bound for Switzerland.

“The total loss exposure has not been verified, and the loss exposure for Brink’s has not been disclosed,” the company said. Brink’s “has a longstanding insurance program in place to cover its losses.”

Brink’s said that while the loss will hurt first-quarter earnings, the robbery won’t “materially affect” it’s full- year profit forecast.

To contact the reporter on this story: David Risser in London at drisser@bloomberg.net

To contact the editor responsible for this story: Robert Valpuesta at rvalpuesta@bloomberg.net


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • BCO
    (Brink's Co/The)
    • $27.5 USD
    • -0.14
    • -0.51%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus