BRUSSELS (dpa-AFX) - SGS SA (SGSOY) engaged in quality assurance business on Monday announced marginally lower ad hoc half-yearly results for the period ended June 2023.
The company said that a significant FX headwind impacted revenue and adjusted operating income by 7.0% and 9.4% (representing a negative margin impact of 40 bps) respectively due to the recent strength of the Swiss Franc against the majority of other currencies.
Profit attributable declined 1.4 percent to CHF 272 million, from CHF 276 million in the prior period.
Adjusted profit declined 0.3 percent to CHF 302 million, from CHF 303 million in the corresponding period of the previous year.
Earnings were constant at CHF1.47 per share as compared to the restated earnings of CHF 1.47 per share in the period ended June 2022. The group has restated the earnings per share in line with the 25-1 stock split effected in April 2023.
Adjusted earnings stood at CHF 1.63 per share, as compared with the restated earnings of CHF 1.61 per share in the period ended June 2022.
Revenue increased 0.9 percent during the period to CHF 3.28 billion, from 3.26 billion in the prior-year period. In constant currency terms the revenue growth was 8.5 percent.
For 2023, the company sees mid to high single-digit organic growth, improved adjusted operating income and margin at constant currency.
Shares of SGS closed Friday's trading at $9.03, down $0.24 or 2.59 percent from the previous close.
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