Swiss certification firm SGS reports H1 FY21 revenue of CHF 3.1 bn

19 Jul '21

2 min read

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SGS Group, a Swiss leading testing, inspection and certification company, has posted 16.8 per cent revenue increase to CHF 3.1 billion (Swiss franc) in first half (H1) of FY21 ended on June 30, 2021, compared to CHF 2.6 billion in the same period of prior fiscal. Profit for the period escalated 63.8 per cent to CHF 290 million (H1 FY20: CHF 177 million).

“The overall recovery of the TIC industry continues to be affected by COVID-19 related challenges. This is impacting part of our network and the daily life of our colleagues, whose safety remains our paramount priority,” Frankie Ng, chief executive officer of SGS, said in a press release.

The company’s operating income for H1 FY21 surged 42.4 per cent to CHF 430 million (CHF 302 million). EBITDA for the six-month period improved 17.7 per cent to CHF 678 million (CHF 576 million).

The acquisition of Brightsight, the leading cybersecurity evaluation laboratory network, during H1 FY21 materially accelerated the company’s global strategy to become the global TIC leader in cybersecurity and complemented its total solution service, supporting SGS’ customers at every stage of their product’s life cycle in connectivity & products, according to the company’s statement.

“The progressive market recovery, the evolution of TIC end-markets and customer demand confirm our strategic evolution, our journey to becoming a more sustainable, data-driven company and our commitment to enabling a better, safer and more interconnected world for all our stakeholders,” Ng concluded in the release.

Fibre2Fashion News Desk (JL)

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