Home / Knowledge / News / Textiles / Intertek diluted EPS soars 5.6% in 2013
Intertek diluted EPS soars 5.6% in 2013
03
Mar '14
Intertek Group plc (“Intertek”), a leading international provider of quality and safety services, announces its full year results for the year ended 31 December 2013.
 
Highlights
- Revenue growth of 6.3% to £2,184m; constant currency organic revenue growth of 4.3%
- Profit2 growth of 2.2% to £343m; profit margin 15.7%, down 60bps
- Diluted EPS increase of 5.6%
- Seven acquisitions for £122m; £145m of organic capital investment
- Cash generated from operations up 14% to £394m
- Recommended full year dividend per share increase of 12%
 
Wolfhart Hauser, Chief Executive Officer, commented, “The quality and safety services market in 2013 was characterised by variable conditions. For Intertek, strong growth in our businesses in the major emerging countries was partially offset by a cyclical downturn in some industries and geographies. Despite these conditions, we reported growth in revenue, operating profit and earnings per share, reflecting the strength of our portfolio.
 
Consumer Goods reported high single digit organic revenue growth with ongoing structural growth in the global textiles and toys markets including new requirements under the EU Toy Safety Directive. 
 
The Commercial & Electrical and Industry & Assurance divisions reported mid-single digit organic revenue growth for the full year. After a strong start to the year, growth in the Industry & Assurance division moderated during the second half reflecting the weakness of discretionary spending in the USA and from exiting certain lower value contracts. 
 
Both the Commodities and Chemicals & Pharmaceuticals divisions were further impacted in the second half due to the continuing challenges of the minerals exploration market and persistent weak conditions in Europe.
 
The Group margin for the full year was below the margin for the same period last year with the effect of these weaker markets mitigated by a strong focus on restructuring and cost control.
 
Variable market conditions in the second half of 2013 have continued into the start of this year. As markets stabilise and the benefit of the Group’s restructuring and cost reductions come through, we expect 2014 to be a year of progressively improving growth and profitability.
 
The structural drivers in the industry remain in place as the global demand for quality and safety services increases. We are confident of achieving or exceeding this industry growth as we continue to invest and focus our resources on our key growth markets.”

Intertek Group


Interviews View All

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Siddharth Biyani, Mangalam Industries Pvt Ltd

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Teresa Neal,

Teresa Neal

Teresa Neal, an art professional with 25 years of experience, in...

Paolo Crespi,

Paolo Crespi

Japan's Epson, a leader in digital textile printing, Italy's For.Tex, a...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search