Intertek Group (ITRK)

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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 to pay dividend after revenue falls

By Sean Farrell

Date: Thursday 21 May 2020

LONDON (ShareCast) - (Sharecast News) - Intertek said it would pay its final dividend as the company reported a 4.6% fall in revenue for the first four months of 2020.
Group revenue in the four months to the end of April fell to £882m as like-for-like revenue declined 4.9%, the FTSE 100 company said in a statement before its annual general meeting.

Intertek said its final dividend for 2019 of 71.6p a share, or £115m, would be paid in June after approval at the AGM.

The product testing company said it was too early to quantify the effect of the Covid-19 crisis on its business. But Chief Executive André Lacroix said the pandemic was likely to create opportunities.

"These range from health, safety and wellbeing-oriented quality assurance in the workplace, public spaces and the home, to the growing demand in the healthcare sector for PPE, new medical devices and stronger infrastructure," Lacroix said. "Further, we are seeing the increasing need for risk management across supply chains and more robust protection against online piracy and other cyber threats in a connected world."

On the company's dividend, Lacroix said: "The group operates a progressive dividend policy with a targeted payout ratio of circa 50%. Intertek ranks second highest in the FTSE100 in terms of dividend progression since the IPO in 2002. The 2019 dividend is 105.8p ... and we will pay our final dividend of 71.6p or £115m on 11 June 2020."

At the end of 2019 the group had net debt of £629m which was one times earnings, down from 1.4 times earnings a year earlier. Intertek had undrawn borrowing facilities of £325m at the end of December and has qualified for the Bank of England's offer to buy short-term corporate debt if necessary, it said.

The company said it expected net debt at the end of 2020 to be between £650m and £700m. Capital spending during the year will be £90m-£100m, it said.





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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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