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  2. Share Prices
  3. Intertek Group Share Price
  4. Intertek Group Share News
  5. Intertek profit rises, interim dividend lifted as product division does well

Pin to quick picksIntertek Group Share News (ITRK)

Intertek Group Information

Share Price Information for Intertek Group (ITRK)

London Stock Exchange
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Share Price: 4,956.00
Bid: 4,968.00
Ask: 4,970.00
Change: 0.00 (0.00%)
Spread: 2.00 (0.04%)
Open: 0.00
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Low: 0.00
Prev. Close: 4,956.00
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Intertek profit rises, interim dividend lifted as product division does well

Tue, 07th Aug 2018 07:37

(Sharecast News) - Product testing company Intertek posted a rise in first half-profit on Tuesday thanks to a strong performance from its products division, as it hiked its dividend.Interim pre-tax profit was up 1.6% to £213.6m, or 7.5% higher at constant currency. Revenue was down 1.8% to £1.35bn, or 3.9% higher at constant currency, while organic revenue was 2.3% lower at £1.34bn, or 3.4% higher at constant currency.Operating profit was up 0.8% to £225.8m, or 6.4% higher at constant currency, and the company lifted its interim dividend by 35.7% to 31.9p a share, moving towards its new payout ratio of around 50% of earnings.Intertek's products and trade related divisions, which represent 94% of its earnings, saw revenue growth of 4.9% and adjusted margin expansion of 40 basis points, with the products division seeing revenue growth of 5.7%, benefiting from recent acquisitions.The company's resources related businesses, which represent 6% of profit, saw organic revenue drop 0.7% and a margin reduction of 40 basis points versus the previous year.Chief executive Andre Lacroix said: "The group has continued to deliver progress in revenue, margin and cash performance in the first half at constant rates, reflecting the group's performance management discipline focused on margin accretive revenue growth with strong cash conversion and accretive disciplined capital allocation. We are well positioned to deliver in 2018 good organic revenue growth with moderate group margin progression at constant currency and strong cash conversion."We are on track on our 'good to great' journey, making progress on both performance and strategy. We continue to be uniquely positioned to benefit from the GDP+ organic revenue growth prospects in the $250 billion global Quality Assurance Industry in the medium to long term, leveraging our high quality and highly cash generative earnings model."
More News
12 May 2023 13:26

ShoreCap raises estimates for Intertek but keeps at 'hold'

(Sharecast News) - Analysts at ShoreCap raised their profit estimates for Intertek despite concerns around the product testing and inspection specialist's ability to deliver on its targets.

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9 May 2023 13:35

RBC Capital lifts Intertek to 'sector perform'

(Sharecast News) - RBC Capital Markets upgraded its stance on inspection, product testing and certification company Intertek on Tuesday to 'sector perform' from 'underperform' as it said the stock was close to fair value.

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9 May 2023 09:29

LONDON BROKER RATINGS: RBC raises Intertek; Davy likes Greencoat UK

(Alliance News) - The following London-listed shares received analyst recommendations xxxxday morning:

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9 May 2023 08:00

LONDON BRIEFING: Stocks called higher; UK house prices slip in April

(Alliance News) - Stocks in London are expected to open higher on Tuesday, as financial markets reopen after the long weekend and after a mixed day of trading over in Asia.

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9 May 2023 07:52

Broker tips: IAG, Intertek

(Sharecast News) - Liberum reiterated its 'buy' recommendation on BA and Iberia owner IAG on Tuesday, and lifted its price target to 350p from 240p as it said positive earnings momentum was set to continue.

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3 May 2023 10:48

Intertek unveils new segmental growth strategy

(Sharecast News) - Quality assurance and testing specialist Intertek took the wraps off its new 'Intertek 30 AAA' growth strategy on Wednesday, aiming to unlock significant value growth opportunities.

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3 May 2023 09:34

IN BRIEF: Intertek trading in line with guidance, updates growth plans

Intertek Group PLC - London-based quality assurance service provider - Says current trading for 2023 is in line with guidance. Expects to invest around GBP115 million to GBP125 million in capital expenditure and financial net debt to be in the range of GBP630 million to GBP680 million in 2023. Announces 'Intertek 30 AAA' growth strategy, including plans for a "stronger portfolio poised for faster growth", targeting mid-single-digit like-for-like revenue growth at constant currency and to return margin to 17.5% peak "and beyond". This is alongside higher cash generation to fuel growth investments and deliver strong returns, as well as "more agile organisation and high-performance capability to unlock significant value growth opportunity".

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27 Apr 2023 12:29

Travis Perkins appoints former Croda finance director as non-executive

(Alliance News) - Builders' merchant Travis Perkins PLC on Thursday said that Pete Redfern will step down as a senior independent director on June 1.

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19 Apr 2023 09:48

LONDON BROKER RATINGS: Stifel likes Ryanair but not On The Beach

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday afternoon:

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17 Apr 2023 21:15

U.S. stocks skittish, but still score gains

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Main U.S. equity indexes end slightly green
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Can stocks bottom ahead of a recession?

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Main U.S. equity indexes now just slightly red; Nasdaq off ~0.2% 
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Taking stock of some rare bullish triggers

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Main U.S. equity indexes modestly red: Nasdaq off ~0.4%
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17 Apr 2023 16:13

It's time for dividends rule

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Main U.S. equity flutter near unchanged
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17 Apr 2023 15:49

Turn that frown upside-downish: Empire State, NAHB

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Main U.S. equity flutter near unchanged, Nasdaq slightly lower 
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17 Apr 2023 15:15

U.S. stocks step gingerly in early trade

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Main U.S. equity indexes around flat
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