Home / Knowledge / News / Textiles / Intertek's revenue for first four months of 2014 up 3.6%
Intertek's revenue for first four months of 2014 up 3.6%
May '14
Intertek Group plc., a leading quality solutions provider to industries worldwide, releases its Interim Management Statement for the period since 31 December 2013, where stated, financial results are for the period from 1 January to 30 April 2014 (“period”). All comparative comments in this statement reflect comparisons with the corresponding period during 2013.
Group Performance
The variable market conditions in the second half of 2013 continued into the first four months of 2014, resulting in good growth in our key product-related business lines but weaker than anticipated activity in the energy infrastructure market. 
At constant exchange rates, total revenue grew 3.6% in the period comprising organic growth of 0.3% and 3.3% growth from acquisitions made in 2013 and 2014. Excluding the effect of the strategic decision to exit certain low-value Industry contracts, organic revenue growth would have been 1.5%. Sterling appreciated against many of the Group’s currencies and at actual exchange rates total revenue declined by 4.9%. Operating margin improved slightly as expected on the same period in 2013 as the Group benefitted from its on-going restructuring activities. 
Divisional Performance
In the Industry & Assurance division, we made good progress with our strategy to exit low-value contracts, which reduced Group revenue growth by 1.2% in the period. We also saw the deferral of some energy industry capital projects which reduced technical inspection activity during the period. Within the Commodities division the minerals business faced new export restrictions in Indonesia, whilst the cargo business in the US was impacted by the severe weather conditions at the start of the year. 
We continued to see good growth in the Consumer Goods and Commercial & Electrical divisions, with positive trading in key industries such as toys, textiles and transportation technologies. The Chemicals & Pharma division reported solid growth.
Investment & Financial Position
Intertek continues to execute its strategy of organic investment and value-enhancing acquisitions to deliver long-term growth in key markets such as China. In the period, new testing laboratories were opened for high-tech lighting (Asia), Food (UK, the Philippines and Germany), consumer and commercial electrical products (Brazil), shale commodities (USA) and textiles (Sri Lanka). The Group also completed the acquisition of Inspec a non-destructive testing company supporting the oil and gas sector for £40 million.
Intertek’s financial position remains strong, with no material change in the financial position since that reported in March.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented, “Market conditions remain variable with good growth in our key product-related business lines but weak demand in certain other markets. We continue to anticipate improvement in growth and profitability in the second half of 2014 as market conditions are expected to improve and comparatives become easier.”

Intertek Group

Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Urmil Arya

Sushila International, a well established textile organisation established ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search