July 17, 2017 / 5:21 AM / 5 days ago

SGS says committed to objectives of 2020 plan

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ZURICH, July 17 (Reuters) - Swiss testing company SGS said on Monday its first-half net profit rose about 7.8 percent, in line with expectations, and confirmed it was on track to meet its 2020 objectives.

SGS net profit attributable to shareholders was 276 million Swiss francs ($286.22 million), it said in a statement, compared to the average forecast of 274 million francs by analysts in a Reuters poll. Sales rose 4.9 percent on a pro-forma basis to 3.05 billion francs, also in line with the poll.

The company remains committed to its 2020 objectives, including average mid single-digit organic sales growth and about 1 billion francs in revenue from acquisitions in 2016-2020. ($1 = 0.9643 Swiss francs) (Reporting by John Miller; Editing by Biju Dwarakanath)

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