0711 GMT - SGS raised its cost-savings target while confirming its 2027 profitability guidance, which suggests that some or all of the savings will be reinvested to drive growth, Bernstein's Will Kirkness and Filippo Giardini say in a research note. The Swiss testing, inspection and certification company said it found additional saving opportunities of 50 million Swiss francs on top of the 100 million francs it was already planning to cut. Its unchanged guidance for 2027 implies some reinvestment, Bernstein says. Nevertheless, SGS could have room to exceed its 2027 profitability target of an improvement of at least 1.5 percentage points in its adjusted operating profit margin by 2027, according to Bernstein. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
November 20, 2024 02:11 ET (07:11 GMT)
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