QQ.1 Aug 2011 22:16
Product testing company, Intertek (ITRK) has made three new acquisitions, Food Analytical Laboratory for 6 million pounds, Recherche Developpment (sic) and Consulting for 5 million pounds and QinetiQ's (QQ.) UK fuel and lubricants business for 0.5 million pounds, in order to "add new expertise and capabilities across the supply chain". In turn, QinetiQ notes that the disposal will allow it to focus on its core capabilities. Separately, Intertek reported half year pre-tax profits of 110.6 million pounds, up 14% year-on-year, on the back of revenue growth of 17% to 763.1 million pounds. Shares in QinetiQ fell 1.5p to 111.5p, while those of Intertek jumped 75p to 1,990p.