The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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looking good as share price moves up more with some nice sized buys coming in
dipped slightly again as more sellers cleared which can be good , as more read the rns hoping more buyers may see the potential , also trying to watch share movement at cpx as well as itrk , hoping that itrk may finish much higher today as more people see the potential of this share
have now replaced the red trades as more people read the rns
after todays rns , some may now be selling , how ever this may tick up more when these red trades are cleared
This doesn't attract much attention, but is steadily chipping away & will continue to do so.
No reason why this won't keep rising.
I am doing exactly that, yes.
I sure do. You following companies announcing too?
Do you think this will keep rising in the medium term?
Up over 3% this morning.
Final results on Monday, will rise from here.
Product testing group Intertek has warned that persistent weak conditions for its commodities and oil and gas customers will mean full year revenues would be lower than previously expected and margins unimproved on last year's. Although underlying organic revenues returned to growth in the third quarter, this was only after excluding its exit from certain low-value contracts at its industry and assurance division.
Intertek Group: Jefferies reduces target price from 3650p to 3465p, while staying with its buy recommendation.
Purchases of shares by 7 directors!
Intertek Group: Exane BNP revises target price from 3200p to 3650p maintaining an outperform rating.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "LSI adds new world-class trade reference testing capabilities to our minerals business within our Commodities division with an excellent reputation for precision and customer service. We are pleased to welcome LSI and its team of experts to Intertek".
Intertek acquires Laboratory Services International B.V (LSI) Mineral Laboratory Intertek Group plc (Intertek), a leading provider of quality and safety services to a wide range of industries worldwide, announces that it has acquired 75% of the issued capital of LSI, a global minerals reference testing laboratory. The shareholding was purchased from LSI's management shareholders for a cash consideration of EUR 5 million (GBP 4 million). LSI supports vendors and buyers of mineral consignments globally with analytical testing of traded minerals as a worldwide reference laboratory. As a LME (London Metal Exchange) approved facility, LSI is used by customers around the world to ascertain precise minerals values when settling commercial trades of minerals. Demand for LSI's services is driven by global minerals trading activity. As a leading international reference testing laboratory, LSI will enhance Intertek's existing minerals services by extending world-class trade verification services to all our customers. LSI is located in Rotterdam, Netherlands with 27 full-time employees. The company will form part of Intertek's Commodities division.
Intertek Group: Jefferies cuts target price from 2800p to 2700p, hold recommendation remains unchanged. JP Morgan raises target price from 3230p to 3267p, overweight rating kept.
Of interest as well, they highlight how, "The outlook is for continued high single digit organic growth and, with group margins close to peak levels, we believe profit growth will be primarily driven by the top line. (...)" Lastly, Intertek said that there has been no significant change to its financial position since the end of the first half, when net debt was £618.5m.
"With global economic conditions remaining uncertain, the group will ensure operations are aligned with customer demand," Intertek assured. The firm said that full-year adjusted operating profit margins are expected to be flat on last year. "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," said Chief Executive Officer Wolfhart Hauser. "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," he said. Analysts at Seymour Pierce agree with the above but, "believe this is fully reflected in the share price." For that reason they decided to maintain their HOLD recommendation. They also pointed out that: "On our unchanged numbers, the shares are on a prospective price-to-earnings (P/E) multiple of 22.3 times, broadly in line with the peer group. SGS is on 24 times earnings and Bureau Veritas on 22 times earnings."
Quality and safety testing group Intertek saw revenue growth slow slightly in the third quarter though organic sales held up strongly. Total reported revenues grew at a 20.1% rate in the 10 months to October 31st, down on the 29.9% growth seen in the first half (to June 30th). However, organic revenue growth at constant exchange rates (excluding acquisitions) was 9.1% during the period, only slightly down on the 9.9% rate seen in the first six months of the year. All business divisions were said to have seen strong organic revenue growth in the third quarter, although the strongest performance came mainly from the Americas, Asia and the Middle East, "with Europe growing below the group average". The firm said that the fast growth in the Industry & Assurance and Commodities divisions in the first half moderated as expected, to high single-digit rates. Meanwhile, growth in the Consumer Goods and Commercial & Electrical divisions continued at high single digits and the Chemicals & Pharma division saw growth improve.
Positive Points: Management highlighted that "each division reported strong organic revenue growth from July to October." For the full year, the group's adjusted operating profit margin is expected to be stable on the prior year. Growth and positive expectations for the future helped enable a 21.5% rise in the half year dividend. Bolt-on acquisitions continue to be made. The acquisition of a non-destructive testing company (NDT Services Ltd) in the UK was made during the third quarter for £17 million. The company is the largest tester of consumer goods in the world and has a network of more than 1,000 laboratories across more than 100 countries.
Negative Points: Organic or like-for-like revenue growth slowed from the 9.9% recorded as of its half year results to 9.1%. As of its half year results, the group's profit margin had reduced slightly in the wake of recent acquisitions. With the group operating in over 100 countries, currency volatility provides a risk. Commodity price volatility and trading volumes can affect demand for associated testing services. Consumer spending trends in Europe and North America can influence demand for consumer testing services.
Financial Highlights: Total revenue growth of 20.1% Organic or like-for-like revenue growth of 9.1% reported on a constant currency basis for the year to date (excludes acquisitions made in 2011 and 2012). For the full year, the group's adjusted operating profit margin is expected to be stable on the prior year. The board noted that there had been no significant change to the company's financial position in the quarter since the last reported balance sheet date of 30 June 2012.