BRIEF-SGS Sees Low Single-Digit Organic Growth In H2 [Reuters]
SGS SA ADR (SGSOY)
NASDAQ:AMEX Investor Relations:
sgs.com/en/our-company/investor-relations/investor-overview
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Source: Reuters
BRIEF-SGS Sees Low Single-Digit Organic Growth In H2 - Reuters 2 Min Read Nov 7 (Reuters) - SGS SA: * WE NOW EXPECT H2 2019 ORGANIC GROWTH TO BE LOW SINGLE-DIGIT * MANAGEMENT TEAM REMAINS VERY FOCUSED ON EXPECTED IMPROVEMENT IN H2 PROFITABILITY AND WE REITERATE OUR FY 2019 GUIDANCE FOR A HIGHER ADJUSTED OPERATING INCOME MARGIN ON A CONSTANT CURRENCY BASIS * H2 2019 PROFITABILITY IS SUPPORTED BY EFFICIENCY GAINS, STRONG COST CONTROL AND IS STARTING TO BENEFIT FROM STRUCTURAL OPTIMIZATION PLAN ANNOUNCED AT H1 2019 * EXPECT THAT CHF 75 MILLION INVESTED IN STRUCTURAL OPTIMIZATION MEASURES TO STREAMLINE BUSINESS ACROSS GLOBAL NETWORK SHOULD DELIVER ANNUALIZED SAVINGS OF AT LEAST CHF 90 MILLION * THIS GIVES US INCREASED CONFIDENCE ON ACHIEVING AN ADJUSTED OPERATING INCOME MARGIN OF ABOVE 17% IN 2020 * GUIDANCE FOR 2019: HIGHER ADJUSTED OPERATING INCOME MARGIN ON A CONSTANT CURRENCY BASIS * CONSIDERING ORGANIC GROWTH IN 2019, WE NOW EXPECT SOLID ORGANIC GROWTH FOR 2020 PLAN * CONFIDENT FOR O
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