Reuters: Global Markets: SGS shares dip after CEO comments on 2014 sales

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

SGS shares dip after CEO comments on 2014 sales Jun 19th 2012, 13:00 ZURICH | Tue Jun 19, 2012 9:00am EDT ZURICH (Reuters) - Shares in SGS (SGSN.VX), the world's largest testing and inspection firm, dipped on Tuesday after its chief executive was quoted as saying the company had to pare back its 2014 sales forecast due to the strong Swiss franc. "Due to the strong franc we must reduce this target to 7 billion," SGS CEO Chris Kirk told the Finanz und Wirtschaft in an interview published on the newspaper's website. SGS is aiming for sales of 8 billion Swiss francs ($8.38 billion) by 2014, but had already cautioned the franc, which soared to record highs in 2011, could make it hard to hit that. A SGS spokesman said the CEO's comments were not new, noting the target had been set two years ago. He said the 7 billion franc figure was based solely on the rise in the franc since then, noting that SGS had 92 reporting currencies. SGS shares fell after the CEO's comments, trading down 2 percent at 1756 francs at 0855 EDT compared to a 1 percent firmer Swiss blue-chip index .SSMI.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions