Brink's says Brussels airport diamond theft will impact' first quarter earnings

The robbery of an estimated $50 million of rough diamonds at Brussels airport on February 18 will be a "significant" hit on its first-quarter earnings, Brink's Co says.

The swiftly executed theft by eight armed men minutes before the airplane was due to take off for Switzerland sent shockwaves around the global diamond industry and was a blow to Antwerp's reputation as a diamond trading hub.

Brink's clarified that the robbery does not "materially affect" its full-year profit forecast, however.

Consequently, Brink's reiterated its full-year financial outlook that had been given on February 1, which sees "a segment profit margin between 6.0 percent and 6.5 percent on organic revenue growth of 5 percent to 8 percent."

The valuable goods transportation firm also noted that it 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 will be reimbursed promptly for all confirmed losses."

The company also stressed that it was working with customers and the Belgian authorities "to resolve all outstanding issues relating to this incident as quickly as possible".