LONDON, Nov 19 (Reuters) - British product-testing companyIntertek said it expected full-year organic revenuegrowth and operating margins to be in line with the previousyear.
The firm, which checks standards on everything from oilservices to children's toys, reported an 0.7 percent drop inorganic revenue growth for the first 10 months of the year afterit shed a number of low-value industry contracts.
Intertek, which surprised markets in September with theappointment of a new chief executive from May next year, alsosaid its commodities division and oil-related services continuedto be impacted by worsening market conditions.
Outgoing Chief Executive Wolfhart Hauser maintained hispositive outlook for revenue growth next year, driven byproduct-related businesses.
"While good growth continues in most of our product-relatedbusinesses, the underlying weak market conditions for ourcommodities and oil and gas capex-related businesses have notimproved in the second half," he said in a statement.
The firm, which operates in more than 100 countries, wasadversely affected by the strong pound, with group revenue atactual exchange rates down 5.1 percent on the 2013 ten-monthperiod. (Reporting by Karolin Schaps, Editing by Paul Sandle)
Intertek Group (ITRK)