SGS: half-year figures below expectations
(CercleFinance.com) - SGS shares fell 4% this morning at the Stock Exchange in Zurich as the Swiss giant published interim accounts slightly below market expectations.
For the first half-year, sales increased by 6.5%, of which 5.6% in comparable data, to 3.3 billion Swiss francs.
Adjusted operating income grew by 9.2% to 481 million francs, bringing margins up to 14.6% (+0.4 percentage points), but net profits have progressed very little (+1% to 296 million; 36.01 francs per share).
Analysing these accounts in line with its expectations, SGS has confirmed its 2018 forecasts, which predict “solid” organic growth and an improvement to adjusted operating margins on a constant currency basis.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
For the first half-year, sales increased by 6.5%, of which 5.6% in comparable data, to 3.3 billion Swiss francs.
Adjusted operating income grew by 9.2% to 481 million francs, bringing margins up to 14.6% (+0.4 percentage points), but net profits have progressed very little (+1% to 296 million; 36.01 francs per share).
Analysing these accounts in line with its expectations, SGS has confirmed its 2018 forecasts, which predict “solid” organic growth and an improvement to adjusted operating margins on a constant currency basis.
Copyright (c) 2018 CercleFinance.com. All rights reserved.