Intertek Group Share News (ITRK)

By Lilly Vitorovich and Anita Likus Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. testing and quality control firm Intertek Group PLC (ITRK.LN) Monday upgraded its full-year outlook, underpinned by an improving trading outlook, as it reported first-half results. Intertek expects to book annual organic revenue growth of mid single digits with a broadly similar margin compared with 2009, and as markets recover further it expects to return to high single digit organic growth rates, Chief Executive Wolfhart Hauser said. Pretax profit before amortization of acquisition intangibles rose 3.3% to GBP97.3 million in the six months ended June 30 from GBP94.2 million a year earlier. Revenue rose 4.9% to GBP652.6 million from GBP622.3 million. At constant exchange rates, revenue rose 5.2%. Intertek, which tests and certifies products for companies, including toys, clothes, or home appliances, has largely been shielded from the recession. The company dropped out of discussions to buy Norway's Det Norske Veritas in April because talks were proving too complex and taking too long. But the company left the door open for possible future talks saying at the time that it still believed in the merit of the deal. Intertek declared an interim dividend of 9.3 pence a share, up 13% from 8.2 pence a year earlier. Intertek shares closed at 1577 pence on Friday, valuing the company at GBP2.50 billion. -By Anita Likus, Dow Jones Newswires; +44 20 7842 9407; anita.likus@dowjones.com (END) Dow Jones Newswires August 02, 2010 02:19 ET (06:19 GMT)