SGS: stock buoyant after interim results
(CercleFinance.com) - SGS shares are up nearly 4% in Zurich today, after it published EPS that is up 1.
9% at 1.64 Swiss franc for H1 2023, with an adjusted operating margin improving 40bp to 14.1%.
At 3.3bn Swiss francs, sales were pretty flat as reported (+0.9%), although were up 8.1% in organic terms, leading to an upward revision of its organic growth forecasts for 2023.
The Swiss inspection and certification services group thus expects mid- to high-single-digit organic growth, as well as an improvement in its adjusted operating margin at constant exchange rates.
Copyright (c) 2023 CercleFinance.com. All rights reserved.