31st Jul 2026 11:58
(Alliance News) - Intertek Group PLC on Friday reported higher half-year pretax profit and revenue, but declared no interim dividend due to its impending takeover by private equity.
Intertek is a London-based assurance, inspection, product testing and certification provider.
Last month, it accepted a GBP9.5 billion takeover offer from Luxembourg-based EQT Fund Management Sarl. The offer, made through bid vehicle Isotope Bidco Ltd, values each Intertek share at 6,107.70 pence. This includes 6,000p in cash per share, plus Intertek's final dividend for 2025 of 107.7p per share.
Intertek shares were 0.1% higher at 5,840.00 pence near midday in London on Friday.
The company on Friday said it expects its acquisition by EQT to complete in the fourth quarter of this year or the first quarter of next year.
For the first half of 2026, Intertek reported GBP242.7 million in pretax profit, up 7.2% from GBP226.5 million a year before, on GBP1.177 billion in revenue, up 5.9% from GBP1.67 billion, or by 6.1% at constant exchange rates.
On a like-for-like basis, revenue rose by 4.6%, or 4.9% at stable currency rates. Looking ahead, Intertek said it continues to expect mid-single-digit-percentage like-for-like revenue growth at constant currency in 2026.
Adjusted pretax profit was GBP309.7 million in the recent half-year, up 12% from GBP276.3 million a year before. Adjusted operating margin was 17.5%, up from 16.5%.
"Following a strong first half, we enter H2 with confidence and expect to deliver a strong 2026 performance with mid-single digit LFL revenue growth at constant currency, continuous margin progression, and a strong free cash flow performance," said Chief Executive Officer Andre Lacroix.
Intertek declared no interim dividend, compared to 57.3 pence per share a year ago, since the EQT cash offer would be reduced by the amount of any dividend paid after the 2025 final dividend included already in the price offered.
By Tom Waite, Alliance News editor
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