Intertek revenues up 17% in 2012

04 Mar '13
2 min read

Intertek Group plc .a leading international provider of quality and safety services, announces its full year results for the year ended 31 December 2012.

Strong Growth Delivery

Highlights

• Revenue growth of 17% to £2,054m; constant currency organic revenue growth of 8.6%

• Profit¹ growth of 19% to £335m; constant currency organic profit growth of 11.2%

• Adjusted operating profit margin 16.3%; up 20 bps

• Six bolt-on acquisitions for £40m; £115m of organic capital investment

• Diluted EPS and dividend per share increase of 22%

Wolfhart Hauser, Chief Executive Officer, commented:

“We are pleased to report another year of strong growth across our diverse geographic and industry portfolio as we continue our strategy of delivering global quality solutions. We report exceptional growth in the energy infrastructure market, where we have successfully integrated our acquisition of Moody

International, in addition to strong growth across all divisions. These results underline the resilient nature of the growth drivers in our chosen quality markets and our ability to capture growth and deliver value to shareholders through acquisitions and organic investment.

Strong growth came from Asia, Australasia, the Middle East and the Americas. In our underperforming areas, principally some locations within Europe, we are taking action to align our portfolio with our strategic growth priorities.

We continue to pursue operational efficiencies and establish platforms supporting the Group’s ability to capture growth in 2013 and beyond, whilst also progressing the Group’s margin in 2012. Whilst economic conditions remain uncertain, we are confident in the opportunities embedded across our portfolio of industries and countries.

'We therefore will continue to follow our established growth strategy which we expect to continue to deliver high single digit organic revenue growth, margin enhancement and value adding acquisitions.”

Intertek

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