SGS sees profit and demand rising

The world’s largest inspection and testing group, SGS of Geneva, has reported an increased profit as demands for its services picked up around the globe.

This content was published on January 17, 2011 - 08:16 and agencies

The group, which tests consumer products, monitors the transport of goods worldwide and checks imports for governments, said it had made a profit of SFr588 million ($609.7 million) for 2010.

This is an increase of 8.4 per cent compared with the previous year. The figure is in line with what analysts had expected.

SGS had annual revenues of SFr4.8 billion, an increase of one per cent over 2009.

During the year, the group completed ten acquisitions for a total cash consideration of SFr302 million.

The board of directors has decided to propose a dividend of SFr65 per share, SFr35 of which reflects the healthy cash generation of the group.

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