January 28, 2020 / 6:10 AM / a month ago

SGS pledges to accelerate acquisitions after posting 2.6% profit rise

ZURICH (Reuters) - SGS (SGSN.S) reported a 2.6% increase in annual net profit, the Swiss testing and certification company said on Tuesday, adding it would accelerate its M&A programme and deliver “solid” organic sales growth in 2020.

Shareholders’ net profit increased to 660 million Swiss francs (519.00 million pounds) from 643 million francs a year earlier, roughly in line with forecasts for 664 million francs according to Refinitiv data.

Revenue fell 1.6% to 6.60 billion francs, slightly short of the 6.66 billion forecast, while the company proposed increasing its dividend to 80 francs from a payout of 78 francs per share for 2018.

Reporting by John Revill; Editing by Muralikumar Anantharaman

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