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SGS H1 Profit Rises; Revenue Up 3.9% - Quick Facts

SGS (SGSOY.PK) reported that its first-half profit to shareholders increased 37.6% over last year (43.3% at constant currency) driven mainly by the gain on the disposal of the Petroleum Service Corporation business. Total revenue grew by 3.9% at constant currency. Organic growth was 3.5%, for the period.

For the first-half, net income to shareholders was 377 million Swiss francs or 49.75 francs per share compared to 274 million Swiss francs or 35.98 francs per share, prior year. The adjusted operating income was 489 million francs compared to 464 million francs, prior year, an increase of 5.4% on a constant currency basis. Adjusted earnings per share was 49.75 francs compared to 34.60 francs.

First-half revenue improved to 3.34 billion Swiss francs from 3.31 billion francs, prior year.

For 2019, the Group expects to deliver solid organic revenue growth and higher adjusted operating income on a constant currency basis.

For 2020, the Group remains committed to deliver mid-single-digit organic growth, and achieve an adjusted operating income margin of above 17%.

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