Member Info for jange

Financial Highlights: Total revenue growth of 20.1% Organic or like-for-like revenue growth of 9.1% reported on a constant currency basis for the year to date (excludes acquisitions made in 2011 and 2012). For the full year, the group's adjusted operating profit margin is expected to be stable on the prior year. The board noted that there had been no significant change to the company's financial position in the quarter since the last reported balance sheet date of 30 June 2012.

Trading update: Revenue growth slows at Intertek. Revenue growth excluding acquisitions (organic growth) slowed to 9.1% for the year to date, down from 9.9% over the first half year - the share price declined by over 2.5% in early trading. Each division reported organic revenue growth in the third quarter, although the fast growth experienced by both its Industry & Assurance and Commodities divisions in the first half moderated to high single digits. Growth for its Consumer Goods and Commercial & Electrical divisions continued at high single digits, whilst its Chemicals & Pharmaceutical division enjoyed improving growth. On a regional basis, the strongest growth came predominantly from the Americas, Asia and the Middle East, while Europe grew below the group average. In all, and with a strong price rise over the last year (+45% as of 19Nov12) set against some recent slowing in organic revenue growth,

Company overview The company is a leading global provider of quality and safety solutions to a wide range of both corporate and government customers. Through its services Intertek helps customers to assess the products and commodities that they buy and sell against a wide range of safety, regulatory, quality and performance standards. The group was floated on the London Stock Exchange back in May 2002 and is currently a constituent of the FTSE-100 index. Group customers include retailers, distributors, manufacturers, traders, industrial bodies, oil and chemical companies and government organisations. Intertek employs over 30,000 personnel across more than 1,000 laboratories and in over 100 countries.

Wilmington Group: Westhouse Securities raises target price from 123p to 141p, neutral rating kept.

Wilmington Group: Westhouse Securities raises target price from 123p to 141p, neutral rating kept.

WANdisco: Panmure Gordon cuts target price from 460p to 537p, buy recommendation reiterated.

Vitec Group: Investec upgrades from hold to buy, target price of 675p maintained.

Ultra Electronics Holdings: Deutsche Bank reduces target price from 1500p to 1400p, hold rating maintained.

Serco Group: JP Morgan Cazenove reduces target price from 662p to 646p, overweight rating unchanged. Credit Suisse cut target price from 650p to 610p and downgrades from outperform to neutral.

Rotork: Jefferies raises target price from 2190p to 2370p, hold recommendation unchanged. UBS raises target price from 2150p to 2350p, neutral rating kept. Citigroup raises target price from 2065p to 2252p, neutral rating maintained.

Record: JP Morgan Cazenove raises target price from 37p to 39p, overweight rating kept.

Prudential: Citigroup raises target price from 850p to 972p, buy recommendation unchanged.

Melrose: JP Morgan Cazenove cuts target price from 275p to 255p, overweight rating maintained. Panmure Gordon cuts target price from 270p to 225p, hold recommendation remains unchanged. UBS reduces target price from 285p to 260p, buy recommendation reiterated.

London Stock Exchange Group: JP Morgan Cazenove reduces target price from 1000p to 886p, underweight rating reiterated.

Lamprell: Bank of America Merrill Lynch upgrades to buy with a 140p target.

Invensys: Deutsche Bank cuts target price from 270p to 245p, equal-weight rating kept.

IMI: UBS raises target price from 850p to 925p, neutral rating kept.

G4S: Credit Suisse cuts target price from 295p to 275p and downgrades from outperform to neutral.

Diploma: Jefferies raises target price from 510p to 520p, buy rating remains unchanged.

Densitron Technologies: Westhouse Securities resumes with a buy recommendation and a target price of 18p.