Intertek posts strong revenue as demand for quality assurance services rise
Intertek reported a continued boost in revenue today as demand for its quality assurance services continued to rise throughout the first half of the year.
Inspection company Intertek reported a continued boost in revenue today as demand for its quality assurance services continued to rise throughout the first half of the year.
Revenue at the London-listed company, which describes itself as a “total quality assurance provider of assurance, testing, inspection and certification services,” grew by 1.8 per cent to reach £1,669.5m in the first half of 2024.
Adjusted operating profit at the company grew by eight per cent, to £265.1m the previous year.
Profit before tax rose by 7.7 per cent to £153.5m, while earnings per share rose by 10.2 per cent st actual rates and 17.5 per cent at constant currency.
It also announced an interim dividend of 53.9p, up by 43 per cent year on year.
“Our clients are increasing their focus on risk-based quality assurance to operate with higher standards on quality, safety and sustainability in each part of their value chain… this is triggering higher demand for our ATIC solutions and creating a significant value growth opportunity moving forward,” chief executive officer André Lacroix said.
“Our highly engaged, customer-centric organisation is laser-focused to take Intertek to greater heights, and the execution of our AAA strategy is on track to create sustainable growth and value for all stakeholders,” he added.
The company expected a “strong” second half of the year, and targeted mid-single digit like for like revenue growth.
Intertek’s share price has risen by over 15 per cent in the last year and over 17 per cent in the year to date.
