Mid-East boost for red24

Terrified British bankers and other executives working in the Middle East and asking for protection amid the protests and violence helped security group red24 enjoy a boost to its business in the year to April.

The group - whose services are mainly sold through insurance companies - has evacuated hundreds of corporate employees from Libya, Egypt, Bahrain and the Ivory Coast in the last few months.

Managing director Maldwyn Worsley-Tonks said that turmoil around the world had led to a "significant increase in demand" for red24's services.

The firm's protection is a benefit available to premium current account holders with HSBC, as well as some insurers. Corporates including car manufacturers and retailers whose buyers travel to dangerous countries also have direct contracts.

"Demand from insurers has grown significantly and I think there will be a further increase in interest in our services this year," said Worsley-Tonks.

"Contracts that we're placing with big organisations cover as many as 50,000 people."

Red24 has a crisis centre in South Africa offering advice.

"We try to prevent people getting into difficulty. The very last option is to get them out of a dangerous country," Worsley-Tonks added.

Despite booming demand for the firm's security guards and protection, red24 said its profits for the year to April would be in line with City expectations because of currency movements.