Intertek Group Plc (ITRK.L), a provider of quality and safety services, Friday reported 9.9 percent growth in revenues for the four-month period ended April 30. Meanwhile, margin was lower due to the impact of sharp profit decline in minerals business and sees full-year margin to be broadly stable with last year. The shares are currently trading down about 5 percent.
In an interim management statement, the company, however, said it aims to maintain organic revenue growth at high single digits for the year and through the longer term.
Wolfhart Hauser, chief executive officer of the company said, "Revenue grew well overall in the period against high comparable growth from last year and in a more variable economic environment than we had expected at the beginning of the year. Looking ahead, whilst we expect the margin drag from the minerals business to reduce in the second half, its effect is expected to leave full year Group margin broadly stable with the prior year."
The decline in minerals is currently expected to continue into the second half of the year, as the sector overall experiences a more prolonged downturn, the firm noted.
According to Intertek, the revenue growth was made up of organic growth at constant exchange rates of 7 percent, favorable currency movements and benefit of acquisitions made in 2012 and 2013.
The company noted that within Industry & Assurance, technical inspection of energy assets grew well, while in Commodities, revenue from minerals, especially in Australia, Brazil and the Philippines, declined more sharply than it expected.
Within Consumer Goods, growth in textiles continues to be strong, and in Commercial & Electrical, the investments made in 2012 have a positive effect on volume of testing. Chemicals & Pharmaceuticals had a mixed start to the year, the company said.
Adjusted operating profit increased slightly in the four-month period.
The company said it will announce its results for the half year ending June 30, on July 29.
In London, Intertek shares are currently trading at 3,304 pence, down 148 pence or 4.29 percent.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.