Intertek hikes dividend after growing half year profits

Intertek lifted half year profits thanks to robust growth in China, India and the Middle East.The testing and certification group said pre-tax profits rose 4.8% to £127.9m after revenues rose 9.5% to £1.1bn.The increase in profits was achieved despite a squeeze on margins due to a decline in its minerals business, weak European market conditions and investment in new businesses. Chief executive Wolfhart Hauser said: "In response, our previously announced restructuring programme is progressing, to align the business with current and anticipated market conditions. Whilst we now expect minerals to remain challenging for some time, the impact on the margin will reduce as we benefit from a lower cost base."The company raised its interim dividend 15.4% to 15p a share.Shares in Intertek were down 1.3% to 3023p.TB