Intertek Group (ITRK)

Sector:

Support

Index:

FTSE 100

5,420.00p
   
  • Change Today:
    -18.00p
  • 52 Week High: 6,170.00
  • 52 Week Low: 4,164.00
  • Currency: UK Pounds
  • Shares Issued: 161.39m
  • Volume: 122,721
  • Market Cap: £8,748m
  • RiskGrade: 183

Intertek reports decent progress in year-to-date

By Josh White

Date: Tuesday 26 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Quality assurance provider Intertek Group updated the market on its trading for the year-to-date on Tuesday, reporting a 4.7% improvement in group revenue at constant rates to £2.49bn, or 7.4% growth at actual rates.
The FTSE 100 company said its organic revenue growth momentum improvement was driven by products and resources for the period between 1 January at 31 October, with organic product revenue growth at 2.3%, trade at 4.4% and resources at 5.2%.

It said it saw 1.4% revenue growth from acquisitions in "attractive" growth and margin sectors, and added it had continued its operational discipline on margin and cash management.

The Intertek board said 2019 would mark "another year of consistent progress" on revenue, margin and cash.

"Our purpose to bring quality, safety and sustainability to life is truly meaningful to our clients given the increased complexity in their operations," said chief executive officer André Lacroix.

"We are benefiting from higher demand from our customers for our industry leading 'Total Quality Assurance' (TQA) solutions in our products, trade and resources divisions.

"Intertek is going from strength to strength."

Lacroix said 2019 would mark "another year" of continued progress in revenue, margin and cash, as the firm expected to deliver good organic revenue growth with solid margin progression at constant rates and strong cash conversion.

"Our good organic revenue growth at constant currency at the Group level in 2019 will be driven by good organic growth in our products division, good organic growth in our trade division and by robust organic growth in our resources division.

"The $250bn global quality assurance industry has attractive structural growth prospects driven by an increased focus of corporations on risk management, global trade flows, global demand for energy, expanding regulations, more complex sourcing and distribution operations, technological innovations, government investments in large infrastructure projects, and increased consumer demand for higher quality and more sustainable products.

"We are uniquely positioned to seize these exciting growth opportunities with our innovative total quality assurance approach."

The company provided "leading" assurance, testing, inspection and certification (ATIC) solutions that were "mission-critical" to customers across multiple industries, Lacroix noted, through its global network of subject-matter experts.

"We operate a high quality and highly cash generative earnings model delivering strong returns.

"Our '5x5' differentiated strategy for growth will continue to move the centre of gravity of our portfolio towards the attractive growth and margin opportunities in the industry based on a disciplined approach to revenue, margin, portfolio and cash performance management, and an accretive disciplined capital allocation policy that delivers sustainable shareholder value creation."

Intertek said its full-year results to 31 December would be announced on 3 March.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Intertek Market Data

Currency UK Pounds
Share Price 5,420.00p
Change Today -18.00p
% Change -0.33 %
52 Week High 6,170.00
52 Week Low 4,164.00
Volume 122,721
Shares Issued 161.39m
Market Cap £8,748m
RiskGrade 183

Intertek Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.19% below the market average94.19% below the market average94.19% below the market average94.19% below the market average94.19% below the market average
88.79% below the sector average88.79% below the sector average88.79% below the sector average88.79% below the sector average88.79% below the sector average
Price Trend
28.32% above the market average28.32% above the market average28.32% above the market average28.32% above the market average28.32% above the market average
23.21% above the sector average23.21% above the sector average23.21% above the sector average23.21% above the sector average23.21% above the sector average
Income
79.92% below the market average79.92% below the market average79.92% below the market average79.92% below the market average79.92% below the market average
78.38% below the sector average78.38% below the sector average78.38% below the sector average78.38% below the sector average78.38% below the sector average
Growth
9.51% below the market average9.51% below the market average9.51% below the market average9.51% below the market average9.51% below the market average
34.62% below the sector average34.62% below the sector average34.62% below the sector average34.62% below the sector average34.62% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 10
Sell 1
Strong Sell 5
Total 19
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Intertek Dividends

  Latest Previous
  Final Interim
Ex-Div 21-May-20 26-Sep-19
Paid 11-Jun-20 11-Oct-19
Amount 71.60p 34.20p

Trades for 03-Jul-2020

Time Volume / Share Price
16:35 72,667 @ 5,420.00p
16:29 1 @ 5,436.00p
16:29 2 @ 5,436.00p
16:29 55 @ 5,434.00p
16:29 1 @ 5,434.00p

Intertek Key Personnel

Chair David E Reid
CEO Andre Lacroix
CFO Ross McCluskey

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