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LONDON (Alliance News) - Intertek Group PLC on Wednesday said it achieved good revenue growth in the first four months of 2016, though its resource industry-facing businesses continued to see challenging market conditions.
The FTSE 100-listed testing, inspection and certification company said group revenue for the four months to the end of April was GBP774.0 million, up 13% year-on-year and growing 11% in constant currencies.
Organic revenue, stripping out acquisition contributions, grew 2.3% in the period, while constant currency growth was 0.5%.
"The group has started the year well with double-digit revenue growth. Our product-related businesses, which contribute over two-thirds of our earnings, delivered good organic growth performance; our trade activities reported solid organic growth, while market conditions remained challenging in our resource related businesses," said Chief Executive Andre Lacroix.
"We are on track to deliver robust full year revenue growth at constant currency. As stated at our full-year results presentation in March, we continue to expect to deliver solid organic growth performance in 2016 with group margins broadly stable year on year," Lacroix added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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