United Protection Security Group Inc.

United Protection Security Group Inc.

April 07, 2009 13:50 ET

United Protection Security Group Inc.: Release of Year-End Results and Conference Call on April 9, 2009

EDMONTON, ALBERTA--(Marketwire - April 7, 2009) - United Protection Security Group Inc. (TSX VENTURE:UZZ) ("UPSG or the Company") today announces that is has released its December 31, 2008 year-end and fourth quarter financial results.

S.Jorstad, Chairman and CEO is pleased to report that in spite of the collapsing of the global economy in the latter half of 2008, and in particular that of the U.S and its ripple effect on Canada specifically, the Company had a strong year. Revenues were up approximately 26% and in spite of the pressure on margins; the Company was able to generate an acceptable operating profit of approximately 3% under the current circumstances.

Mr. Jorstad further states that a strong regional focus in Western Canada with an international and regional client mix and a strong management team provides the basis for continuing positive growth in 2009.

F.Ramsoondar, CFO states that the Company maintained progress in adding positive results to shareholders' equity in 2008, despite expensing of the one-time acquisition investigation costs of $286,619. The Company's objective is to continue to add equity to its balance sheet.

The Company will host a conference call at 11:00 a.m. MDT (13:00 EDT) on Tuesday, April 14, 2009. Participants on the call will be:

- Mr. S.D.Jorstad, Chief Executive Officer;

- Mr. F.V. Ramsoondar, Chief Financial Officer; and

- Mr. A. Mahdavi, Investor Relations

Participants calling from Canada or the United States should call toll-free: 1.866.305.1460, access code #4010621. For those who will not be able to attend, a webcast recording will be available on UPSG's website, www.unitedprotection.com.

About United Protection Security Inc.

United Protection Security Group Inc. is an established security protection company; focused on high impact, high visibility, and high risk security situations, coupled with one of the broadest ranges of traditional private security services in the industry.

Delivering 21st Century Solutions to centuries old problems through a network of 'Elite Private Protection Professionals'.

United Protection Security Group Inc. is committed to providing its clients with a "superior quality service" at a competitive price. It is further committed to providing its employees and associates with the assistance, support, and opportunity to maximize their individual potential for excellence, peak performance and personal growth. It is the Company's policy and highest priority to protect the health and welfare of all its clients and employees and their respective property.

Copies of the consolidated interim financial statements, related MD&A, CEO and CFO 52-109FV1 certification forms can be found on SEDAR at www.SEDAR.com.

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks related to business development and retention, and risks related to the current economic and credit conditions. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Spinnaker Capital Management
    Ali Mahdavi
    (416) 962-3300
    Spinnaker Capital Management
    Kevin O'Connor
    (416) 962-3300