24th May 2018 09:07
LONDON (Alliance News) - Quality assurance and safety testing provider Intertek Group PLC said Thursday its revenue at actual rates for the first four months of 2018 was down 2.5% year-on-year, however at constant rates it reported a 4.4% increase.
The company said sit is on track to deliver good organic growth for 2018.
Intertek shares where trading up 3.3% early Thursday morning at 5,344.00 pence, the top gainer in the FTSE 100 index.
For the period from January to the end of April, the company reported group revenue of GBP861.2 million down from GBP883.5 million the year before.
Products revenue at actual rates increased 0.2% to GBP508.1 million from GBP507.0 million, while both resources and trade revenue suffered 6.4% and 6.1% declines, respectively.
Intertek said trade revenue dipped to GBP200.7 million from GBP213.7 million in 2017.
Resources revenue was down at GBP152.4 million from GBP162.8 million.
If constant exchange rates are considered, products revenue increased by 7.4%, trade by 0.6% and resources by 0.3%.
"In the first four months of the year, the group has delivered revenue of GBP861.2 million, up 4.4% year on year at constant rates, driven by a good organic growth of 4.0% at constant rates and by the contribution of the acquisitions we made recently in attractive growth and margin sectors," Chief Executive Officer Andre Lacroix said.
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