1st Aug 2016 06:07
LONDON (Alliance News) - Testing, inspection and certification services provider Intertek Group PLC on Monday said it remains on track to meet its expectations for 2016 after pretax profit and revenue grew in the first half.
The FTSE 100 company said pretax profit in the half year to the end of June grew 7.3% year-on-year to GBP149.2 million from GBP139.1 million a year prior. Revenue rose 14% to GBP1.20 billion from GBP1.06 billion.
Intertek said organic revenue growth in the half was robust, complemented by a good contribution from acquisitions it has made. Its Products testing arm delivered a strong half, while its Trade-related businesses performed well, despite challenging conditions in key markets, including the resources sector.
Intertek declared an interim dividend of 19.4 pence per share, up 14% from the 17.0p paid a year before.
"The group has delivered double-digit revenue and earnings growth leveraging our high margin and strongly cash-generative earnings model," said Chief Executive Andre Lacroix.
By Sam Unsted; [email protected]; @SamUAtAlliance
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