BRUSSELS (dpa-AFX) - SGS Group (SGSOY.PK), an inspection, verification, testing and certification company, reported that its profit attributable to equity holders for the first-half of 2020 decreased 54.6% to 171 million Swiss francs from 377 million francs in prior year. Earnings per share were 22.74 francs, down from 49.75 francs in the previous year.
Adjusted earnings per basic share decreased to 25.82 francs from 37.04 francs in the previous year.
Operating income decreased to 302 million francs from 636 million francs in prior year mainly driven by the exceptional gain of 264 million francs on the disposal of the PSC business in 2019 and by the pandemic in 2020.
Revenue was 2.6 billion francs, down 20.7% or 14.9% at constant currency from last year, hurt by the disposal of the Petroleum Service Corporation or PSC in 2019. Organic Revenue declined by 10.4%, impacted by the pandemic.
'Given the rapid global evolution of Covid-19 and the various global lockdown measures, our 2020 guidance is withdrawn and it remains challenging for us to offer a meaningful outlook for FY 2020,' the company said.
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