By Li-mei Hoang
LONDON, March 3 (Reuters) - Product-testing company Intertek forecast stronger revenue growth and profitability in2014 after weak commodities markets prompted it to shrink itsminerals business last year.
The British company, which tests anything from oil tochildren's toys to check they comply with regulatory standards,said it expected no growth this year at the minerals division.
"The minerals business worsened over the whole year. Wedon't expect a growth rate (in minerals), but we don't expect afurther decline," Chief Executive Wolfhart Hauser told Reuters.
"We have taken costs out, made redundancies, closed labs andthat means that the margins in that business, even if it staysflat this year, will be better than 2013," he said.
Adjusted operating profit in the minerals division, whichaccounts for 5 percent of the business, fell 9 percent to 70million pounds ($117.31 million) last year.
However, strong growth in toys, textiles and chemicals andpharmaceuticals in emerging markets like China and India helpedthe company post a 2.1 percent rise in pre-tax profit to 314.9million pounds, a touch above an average analyst estimate of 312million, according to a Thomson Reuters poll.
Hauser said he saw growth in 2014 driven by demand fortesting shale oil and increased production of goods in NorthAmerica, as well as textile and toy testing in China and India.
Shares in Intertek rose 2.3 percent to 3,011 pence by 0905GMT, making it one of the biggest gainers on the FTSE 100 index.
"Management highlight that as markets stabilise and theimpact of restructuring and cost reductions come through, 2014should be a year of progressively improving growth andprofitability," said Cantor Fitzgerald analyst Caroline de LaSoujeole.