Bureau Veritas Raises Full-Year Sales Guidance
Bureau Veritas, the French laboratory-testing, inspection, and certification company, has announced an upward revision of its full-year sales guidance. The company has seen a strong performance in the first half of the year, resulting in higher net profit and revenue. Additionally, Bureau Veritas has a robust pipeline for the remainder of the year.
Organic revenue growth is now expected to be in the mid-to-high single digits, surpassing the earlier estimate of mid-single-digit growth. Moreover, the company anticipates maintaining a stable adjusted operating margin at constant exchange rates, in line with its previous outlook.
For the first half of this year, Bureau Veritas reported a net profit of €232.5 million ($257 million), compared to €225.2 million in the same period last year. The company's revenue also saw a substantial increase, rising to €2.90 billion from €2.69 billion.
However, operating profit decreased slightly from €375.2 million to €372.9 million during the first six months of 2023.
In the second quarter alone, Bureau Veritas recorded revenue of €1.50 billion, up from €1.40 billion in the corresponding period last year. Strong performance in the buildings and infrastructure segment, driven by new projects in South America (particularly Brazil) and the Middle East, contributed significantly to the overall revenue of €437.2 million.
These developments demonstrate Bureau Veritas' ongoing success and positive outlook for the future.
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