Intertek on track for solid annual growth
By Sean Farrell
Date: Wednesday 24 Nov 2021
(Sharecast News) - Intertek said it was on track for solid annual growth as the product testing company reported revenue up 6.7% in the most recent four-month period.
Excluding currency movements, revenue rose to £961.5m from £941m in the four months to the end of October, helped by acquisitions.
Including currency swings revenue rose 2.2% and like-for-like revenue was up 0.5%. At constant currency, like-for-like revenue rose 5%.
Like-for-like revenue rose across the FTSE 100 group's business with 5.5% growth at the products division, 3.7% at the trade business and 4.7% at resources. The company said the move towards more sustainable products would be good for its business.
André Lacroix, chief executive, said: "Looking to the full year, we are on track to deliver robust like-for-like revenue growth at constant currency, year on year margin progression and a strong free cash flow performance, notwithstanding the lockdown restrictions still in place across some of our global markets and the supply chain challenges that our clients are facing."
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