Intertek Group Plc ITRK Interim Management Statement

  Intertek Group Plc (ITRK) - Interim Management Statement

RNS Number : 3893R
Intertek Group PLC
19 November 2012




Interim Management Statement

Intertek Group  plc ("Intertek"),  a leading  provider of  quality and  safety 
services to a wide  range of industries around  the world, today releases  its 
Interim Management Statement for the period  from 1 July to 18 November  2012. 
Where stated,  financial results  are for  the  period from  1 January  to  31 
October 2012 ("period").  All comparative comments  in this statement  reflect 
comparisons with the corresponding period  during 2011. The Group's full  year 
results to 31 December 2012 will be announced on 4 March 2013.



Total reported revenue growth for the period was 20.1%. Organic revenue growth
for the period  was 9.1%  at constant exchange  rates (excluding  acquisitions 
made in 2011 and 2012).



Each division reported strong organic revenue growth from July to October. The
fast growth in the Industry & Assurance and Commodities divisions in the first
half of the year, moderated as expected, to high single digits. Growth in  the 
Consumer Goods and Commercial & Electrical divisions continued at high  single 
digits and the Chemicals & Pharma  division saw growth improve. The  strongest 
growth has come  predominantly from the  Americas, Asia and  the Middle  East, 
with Europe growing below the  Group average. With global economic  conditions 
remaining uncertain,  the  Group  will  ensure  operations  are  aligned  with 
customer demand.



Since  the  half  year   results  there  have   been  two  notable   corporate 
developments: the  acquisition  of  a  non-destructive  testing  company  (NDT 
Services Ltd) in the UK for £17m; and the formation of a long term partnership
with the Quality and  Conformity Council of Abu  Dhabi (QCC). The  acquisition 
enhances Intertek's existing services to the energy, petrochemical, power  and 
aerospace industries in a strongly  growing market. The partnership with  QCC, 
which will initially provide advisory  services for the quality programmes  in 
Abu Dhabi across  a number  of industries, validates  Intertek's strength  and 
position as a leading provider of outsourced global quality solutions.



For the full year, the Group's adjusted operating profit margin is expected to
be stable on the prior year.



There has been no significant change to the Group's financial position in  the 
period since the last reported balance sheet date of 30 June 2012.





Wolfhart Hauser, Chief Executive Officer, said:



"Intertek has consistently produced strong organic revenue growth and we  have 
continued this performance so  far in 2012  with growth of  9.1%. We see  good 
structural growth  across many  of our  industries and  geographies while,  as 
expected due  to the  unstable  global economic  conditions, growth  in  other 
markets has moderated from the very strong levels seen in the first half.



"The compelling long term structural  drivers for quality and safety  services 
across a broad range of industries and geographies and our focus on supporting
our customers will help  our business to grow  organic revenue at high  single 
digits through the economic cycle."



                                    -ends-

Contacts

Aston Swift, Intertek

Telephone: +44 (0) 20 7396 3400 

aston.swift@intertek.com



Richard Mountain, FTI Consulting

Telephone: +44 (0) 20 7269 7186

richard.mountain@fticonsulting.com

ABOUT INTERTEK

Intertek is a leading provider of quality and safety solutions serving a  wide 
range of  industries  around  the  world. From  auditing  and  inspection,  to 
testing, quality assurance and certification, Intertek people are dedicated to
adding value to customers' products and processes, supporting their success in
the global marketplace. Intertek has the expertise, resources and global reach
to support its customers through its  network of more than 1,000  laboratories 
and offices  and  33,000 people  in  over  100 countries  around  the  world. 
Intertek Group plc (LSE: ITRK) is listed on the London Stock Exchange and is a
constituent of the FTSE 100 index.



www.intertek.com

This Interim Management Statement  is prepared for and  addressed only to  the 
Company's shareholders as  a whole and  to no other  person. The Company,  its 
directors,  employees,   agents  or   advisers  do   not  accept   or   assume 
responsibility to any other person  to whom this Interim Management  Statement 
is shown  or into  whose hands  it may  come and  any such  responsibility  or 
liability is  expressly  disclaimed.  Statements  contained  in  this  Interim 
Management Statement are based on  the knowledge and information available  to 
the Company's Directors at  the date it was  prepared and therefore the  facts 
stated and views expressed  may change after that  date. By their nature,  the 
statements concerning the risks and  uncertainties facing the Company in  this 
Interim Management  Statement  involve  uncertainty since  future  events  and 
circumstances can cause  results and  developments to  differ materially  from 
those anticipated.  To  the  extent that  this  Interim  Management  Statement 
contains any statement dealing with any time after the date of its preparation
such statement is merely  predictive and speculative as  it relates to  events 
and circumstances which are yet to occur. The Company undertakes no obligation
to update these forward-looking statements.





                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSBIBDBIDBBGDL -0- Nov/19/2012 07:00 GMT
 
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