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MARKET STAR INTERTEK SEES BIG REVENUE GROWTH Intertek, the quality and safety testing firm, says strong organic growth in the first quarter has been complemented by a big boost in revenues from the acquisition of Moody International. At constant exchange rates, year to date organic revenue growth has been 9.5%. After taking into account revenue from acquisitions in 2011 and 2012 (including Moody International), and a slight positive currency effect, total reported revenue grew by 40%. Its four largest divisions: Industry & Assurance, Commodities, Consumer Goods and Commercial & Electrical, have all reported strong growth, although Chemicals & Pharma “had a slow start to the year in a relatively weak market, without the support of any new regulations.” Intertek makes money when companies need to comply with new regulations. So far in 2012, the firm has spent £17m on acquisitions. Wolfhart Hauser, Chief Executive Officer, said: "We have made a positive start to the year with good organic revenue and profit growth and a very strong performance from Moody International which we bought last year. We expect our performance this year to be in line with our expectations..." Intertek is an impressive performer, the shares have risen 22% so far in 2012. Over the last five years the stock has increased in value by 464% against a FTSE 100 growth of 6.3%. Source: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20104121 P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "We are pleased to welcome the company to the Group. ATI's solutions are highly complementary to our wider Industry Services portfolio and will deepen our support to customers in maintaining the quality of their assets."
Intertek acquires Automation Technology Inc (ATI) Intertek Group plc (Intertek), the leading international provider of quality services to a wide range of industries, announces that it has acquired ATI, a provider of asset integrity support services in the US power sector. The company was purchased from its management shareholders for a total consideration of USD 16 million (GBP 10 million). ATI's asset management software solutions are used to record and collate testing and inspection data to support the maintenance of power generation infrastructure. It helps companies to track infrastructure integrity and to develop effective plans to reduce failure risk and optimise maintenance work during scheduled outage periods. Power and energy companies are investing more in solutions such as those of ATI which help to regulate and manage their maintenance programmes as they continue to increase investment in existing and new infrastructure to meet growth in energy demand. ATI will complement Intertek's existing quality and integrity management services for owners and operators of power, oil, gas, petrochemical, renewable energy and other infrastructure. The company is based in California, USA and will form part of Intertek's Industry & Assurance division.
http://www.investegate.co.uk/Article.aspx?id=201204050700208757A
UBS upgrades Intertek Group from sell to neutral, target price raised from 1775p to 2600p.
In order to enhance its existing consumer goods division, Product tester Intertek (ITRK) announced that it has bought US retail quality control group 4th Strand for 6.4 million dollars (4.1 million pounds). The company expects to see increasing demand from large retailers which are increasingly developing their own-brand products, but lack the testing capabilities of specialised branded manufactures. Intertek shares gained 40p to 2,500p.
COVERAGE Product testing group Intertek's 2011 results passed with flying colours, with both revenue and profits ahead of market expectations. The firm saw revenue growth of 27% to £1,749m in 2011 from £1,374m in 2010. In constant currency terms, revenue grew 8.3% on an organic base from 2010. The market had been expecting revenue of £1,696m.
Wolfhart Hauser, Chief Executive Officer, commented: "Intertek has continued its track record of delivering strong growth through its performance in 2011. The results include both strong organic and acquisitive growth with Moody International, the strategic acquisition made in April last year, performing ahead of our expectations. All five divisions contributed to our organic growth, with a very good performance from the Commodities division and a second half acceleration from the Consumer Goods division. We extended our capabilities and expertise across the Group investing £81 million in new facilities and equipment. Our strong growth drivers combined with our strategic focus on supporting global quality needs give us confidence that we will report another year of strong results in 2012 and extend our track record of growth delivery into the future."
Strong financial results and strategic progress Highlights · Strong revenue growth of 27% to £1,749m; constant currency organic growth of 8.3% · Adjusted operating profit up 24% to £281m; constant currency organic growth of 9.6% · Adjusted operating profit margin 16.1% · Adjusted diluted earnings per share and dividend per share both increased by 20% · Moody acquisition delivering ahead of expectations · All divisions grew organic revenue at constant currency by between 4% and 12%
http://www.investegate.co.uk/Article.aspx?id=201203050700146410Y
Intertek chairman sells more shares Vanni Treves, chairman of the FTSE 100-listed testing company Intertek, has offloaded a big chunk of shares, netting nearly £200,000. He sold 10,000 shares at 1,980p a time and still has 20,000. The shares have been hit by the general market decline since April, when Treves sold 24,048 shares at 2,076p a time.
Intertek is the company you hire to determine whether the paint coating your mug is toxic. Or to find out whether Jeremy Clarkson’s assertions about the mileage achieved by an electric vehicle are accurate. It is the world’s largest provider of testing services. Good products, good management and access to growth markets mean that Intertek will be a core holding for many investment funds. Just don’t buy it expecting a rampaging share price or massive share buybacks, says the Times.
Product testing company, Intertek (ITRK) has made three new acquisitions, Food Analytical Laboratory for 6 million pounds, Recherche Developpment (sic) and Consulting for 5 million pounds and QinetiQ's (QQ.) UK fuel and lubricants business for 0.5 million pounds, in order to "add new expertise and capabilities across the supply chain". In turn, QinetiQ notes that the disposal will allow it to focus on its core capabilities. Separately, Intertek reported half year pre-tax profits of 110.6 million pounds, up 14% year-on-year, on the back of revenue growth of 17% to 763.1 million pounds. Shares in QinetiQ fell 1.5p to 111.5p, while those of Intertek jumped 75p to 1,990p.
Jeffries International upgrades Intertek Group from hold to buy, target price raised from 2150p to 2200p
Societe Generale downgrades Intertek from buy to hold, target price reduced from 2240p to 2100p.
Intertek expects high single digit growth in 2011 By Benjamin Chiou Date: Thursday 19 May 2011 LONDON (ShareCast) - Quality and safety services provider Intertek has seen organic revenue grow by 8% in the year so far, as the firm was able to offset a slower-than-expected performance in its Consumer Goods division. Intertek also said it anticipates achieving organic revenue growth in the high single digit range for the full year. What's more, after accounting for revenue from acquisitions made in 2010, total reported revenue jumped by 11% (year-to-date) compared with the same period the year before. This helped an increase in operating profit, despite a slip in profit margin which was attributable to Consumer Goods. The Commodities division saw good revenue growth, Intertek said, as clients' trading, refining and fuel development activities expanded, fueling demand for petroleum-related cargo inspections in North America. Commercial & Electrical also performed well, as developments in renewable energy technologies and energy storage - along with clients wanting to reduce their energy usage and environmental impact - increased demand. However, despite being a seasonally slower period for the Consumer Goods division, revenue growth was worse than expected, mainly due to "an unusually long new year holiday shut-down period in China." "All of our divisions had positive revenue growth in the first four months of the year, with higher than expected performances in the Commodities and Commercial & Electrical divisions offsetting the slower start for Consumer Goods," said chief executive officer Wolfhart Hauser.
http://www.investegate.co.uk/Article.aspx?id=201105190700138786G
Expanding on its position in the global energy market, Intertek Group (ITRK), the provider of quality and safety services, has entered into a conditional agreement to acquire Moody International for 730 million dollars (447 million pounds). The acquisition is expected to be earnings enhancing in the current financial year. Separately, the group also announced adjusted pre-tax profits of 212 million pounds for the year ended 31st December 2010, up 11% a year earlier, on revenue 11% greater at 1,374 million pounds. The shares gained 96.5p to 1,995.5p.
Wolfhart Hauser, Chief Executive Officer, commented: "Intertek has produced strong results for the year with a notable acceleration in the second half. Market conditions improved as the year progressed and we invested in both people and assets to capture this recovering growth. We are pleased to announce today that we have agreed to acquire Moody International (Moody) for approximately US$730 million (GBP450 million) from companies controlled by Investcorp Securities Limited. Moody is a leading quality and safety services provider to the global energy industry and a global provider of systems certification services. Further information on this acquisition is provided in a separate announcement today. As market conditions continue to improve, the enlarged Group is very well positioned to continue its record of strong organic revenue growth of high single digits. With this acquisition, we expect the Intertek operating profit margin to be broadly similar in 2011 with that of 2010 and we are confident that, over the medium term, we will see the Group's overall margin progressively increase."
Strong results - capturing recovering growth Highlights · Total revenue growth of 11% · Organic revenue growth of 7.7% at constant currency · Adjusted operating profit¹ growth of 9% · Adjusted operating profit¹ margin 16.6% · EPS and Dividend increase of 10% · Acquisition of Moody for approximately £450m
http://www.investegate.co.uk/Article.aspx?id=201103070701114070C
Summary of the Acquisition Intertek Group plc ("Intertek" or the "Company"), a leading international provider of quality and safety services, announces that it has entered into a conditional agreement to acquire Moody International ("Moody") for a consideration of US$730 million (£450 million) on a cash-free and debt-free basis (the "Acquisition"). Moody is a leading worldwide provider of quality and safety services to the global energy industry. It also provides systems certification services to the manufacturing, construction and service markets. Moody is headquartered in Haywards Heath, UK, and employs approximately 2,500 people in over 80 offices and 60 countries. Moody is currently owned by companies controlled by Investcorp Securities Limited, and the management of Moody. Intertek is funding the Acquisition entirely in cash from new and available debt facilities.
http://www.investegate.co.uk/Article.aspx?id=201103070700154100C
Intertek, the testing and inspections firm, has paid £450m for Moody, a provider of quality and safety services to the global energy industry. The purchase of Haywards Heath-based Moody on a cash-free and debt-free basis will create “significant” benefits and opportunities, including pre-tax cost synergies of about £6m by the third full year of ownership.
Not ramping, these guys are my only share im in profit on - 5% up! Times tipping them too. 06.03.07 Helped by the odd acquisition, revenues and profits at product tester Intertek could rise at double-digit percentage rates. Dividends will rise faster in the short term, with Intertek executives on a pledge to reduce cover from three to two and a half times. Buy says the Times.