SGS '10 Profit Rises; Expects Higher '11 Sales, Net
January 17 2011 - 2:03AM
Dow Jones News
SGS S.A. (SGSN.VX) Monday reported an 8.4% increase in full-year
net profit, and said it expects 2011 top line growth and profit
above the prior-year level.
The company, which provides inspection, testing, certification
& verification services to a range of companies, reported net
profit of 588 million Swiss francs ($567 million) in the year to
end-December, up from CHF xxx a year ago. Sales climbed 4.1% to
CHF4.8 billion from CHF xxx, driven by increases in most of the
regions in which it operates, the company said.
The rate of SGS's second-half revenue growth increased to 6.6%,
from 1.7% in the first half of the year, boosted largely by its
minerals, consumer testing and governments and institutions
services businesses.
"SGS is expecting to show improvements in top-line growth
compared to 2010," it said. "Operating performance will improve
with trading profit above prior year's level, notwithstanding the
substantial investment in development projects to drive growth well
beyond the current year."
SGS shares closed at CHF1,535 Friday, leaving them 2.2% lower in
the year to date.
By Neil MacLucas, Dow Jones Newswires; +41 43 443 8046;
neil.maclucas@dowjones.com
SGS (PK) (USOTC:SGSOY)
Historical Stock Chart
From Jun 2024 to Jul 2024
SGS (PK) (USOTC:SGSOY)
Historical Stock Chart
From Jul 2023 to Jul 2024
