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SGS FY net hit by restructuring costs, cuts dividend
January 17, 2013 / 6:16 AM / 5 years ago

SGS FY net hit by restructuring costs, cuts dividend

ZURICH, Jan 17 (Reuters) - Testing and inspection company SGS said restructuring costs resulted in a one-off charge of 47 million Swiss francs in 2012, pushing full-year net profit below forecasts.

Net income at the company, whose activites range from testing toys to measuring emissions of power stations, rose 1.5 percent in the year to 556 million Swiss francs ($597.59 mln), short of forecasts for 573 million francs in a Reuters poll.

The group, which competes with France’s Bureau Veritas and Britain’s Intertek, said it would propose a dividend of 58 francs per share, lower than the 65 francs paid out last year.

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