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SGS delivers strong performance in 2017; revenue up 5.4%
24
Jan '18
Courtesy: SGS
Courtesy: SGS
SGS, the world’s leading inspection, verification, testing and certification company, has delivered a strong performance in 2017, with its total revenue increasing by 5.4 per cent (of which 4.2 per cent organic) on a constant currency basis to CHF 6.3 billion. Adjusted operating income grew 5.4 per cent on a constant currency basis to CHF 969 million.

Significant growth was reported across the vast majority of the portfolio, and SGS is on track to deliver the revenue growth projected in the 2020 strategic plan, the company said in a press release.

Profit for full year 2017 reached CHF 664 million, an increase of 13.3 per cent, mainly driven by improved performance, fewer restructuring expenses and a one-time tax rate decrease to 22 per cent (2016: 24 per cent) driven by US tax reform.

Profit attributable to equity holders reached CHF 621 million, an increase of 14.4 per cent compared with CHF 543 million disclosed in 2016. The Group generated solid operating cash flow at CHF 987 million supported by strong underlying business performance. Net investments in fixed assets were CHF 281 million and the Group completed 12 acquisitions during the period for a total cash consideration payable of CHF 40 million. In 2017, the Group paid a dividend of CHF 528 million.

For 2018, the Group expects to deliver solid organic revenue growth and higher adjusted operating income margin on a constant currency basis, and a continuation of its robust cash flow generation. (RKS)

Fibre2Fashion News Desk – India


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