Home / Knowledge / News / Information Technology / Intertek Group H1 revenues increase 9.5%
Intertek Group H1 revenues increase 9.5%
29
Jul '13
Intertek Group plc, a leading international provider of quality and safety services, announces its half year results for the period ended 30 June 2013.

Highlights

- Revenue growth of 9.5%; constant currency organic growth of 6.3%
- All divisions contributing to revenue growth
- Operating profit¹ growth of 4.0% to £158m, adjusted operating margin¹ of 14.6%
- Margin reflects challenging markets in minerals and Europe; restructuring programme continuing
- Diluted EPS1 increase of 6.4%; interim dividend increase of 15.4%
- First half organic investment of £61m; £9m on four bolt-on acquisitions

Wolfhart Hauser, Chief Executive Officer, commented: “Intertek delivered good revenue growth in the first half against a very strong performance last year. We saw challenging market conditions in our minerals business and across Europe, but produced robust growth in a number of other areas, most notably in China, India and the Middle East.

The Industry & Assurance division continued to grow revenue strongly, benefitting from the strength of our focus in the energy market. The Consumer Goods and Chemicals & Pharmaceuticals divisions continued to grow well as our global footprint and service expansion supported the market developments.

The Commercial & Electrical division grew moderately and the Commodities division grew low single digits as a result of the sharper than anticipated decline in the minerals testing business and very strong comparatives in our Government Trade Services business.

The margin for the Group was lower in the period, mainly as a result of the decline in the minerals business, weak European market conditions and investment in new businesses. In response, our previously announced restructuring programme is progressing, to align the business with current and anticipated market conditions. Whilst we now expect minerals to remain challenging for some time, the impact on the margin will reduce as we benefit from a lower cost base.

Looking ahead, revenue growth for the Group is expected to improve in the second half from the level reported in the first half. The second half margin is anticipated to be in-line with the corresponding period last year, with year on year underlying margin progression to resume from 2014.

"Intertek’s structural growth drivers and globally diversified services provide a strong foundation for long term value creation. We continue to diversify our quality and safety services and are working to further develop in Asia, the Middle East, South America and India where we have potential for very strong growth.”

Click here to view  full results

Intertek


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Urmil Arya

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

Ravindra Jain, Ashish Baid

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search