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Intertek reports decent revenue growth in H1
05
Aug '10
Intertek Group plc, a leading international provider of quality and safety services, announces its half year results for the period ended 30 June 2010.

Highlights

• Organic revenue growth of 4.6% at constant exchange rates – growth in all divisions
• Organic operating profit growth of 1.5% at constant exchange rates
• Three acquisitions now completed, for total consideration of £30.4m
• Interim dividend increased by 13.4% to 9.3p
• Improved 2010 outlook

Wolfhart Hauser, Chief Executive Officer, said:

"Intertek has reported a good first half of the year with trading improving during the period. We are continuing to invest in organic growth and also completed three acquisitions in the year to date. With a strong financial position, we continue to make targeted bolt-on acquisitions and to evaluate medium-sized strategic acquisitions to increase shareholder value.

While the Group's overall growth drivers remain strong, the pace of recovery in our markets continues to vary. However, environmental regulations, the expansion of renewable energy industries and consumers' concern over the health and safety of their products continue to drive good growth and offset some weaker markets.

“With the trading outlook improving, we now expect to achieve 2010 organic revenue growth of mid single digits with a broadly similar margin compared to 2009, and as markets recover further we expect to return to high single digit organic growth rates."

Intertek is a leading provider of quality and safety solutions serving a wide range of industries around the world. From auditing and inspection, to testing, quality assurance and certification, Intertek people are dedicated to adding value to customers' products and processes, supporting their success in the global marketplace.

Intertek Group plc

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