Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Intertek Group    ITRK   GB0031638363

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Intertek : British testing firm Intertek's first-half profit rises

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/01/2017 | 03:26am EDT

British testing company Intertek Group reported a 21.9 percent rise in first-half profit on Tuesday, helped by a strong performance in its products-related business and a fall in the pound, sending its stock up 5 percent.

Alongside carrying out safety tests on trains, toys and a range of other products, Intertek also tests oil and equipment, and the challenges facing the oil and gas infrastructure market have been weighing on its resources division.

The company said adjusted pretax profit rose to 210.3 million pounds ($277.7 million) in the six months to the end of June from 172.5 million pounds a year ago. Stripping out the impact of currency movements, profit was up 11.6 percent.

Like-for-like adjusted revenue rose 12.8 percent to 1.355 billion pounds. That was a rise of 1.7 percent stripping out the impact of currency fluctuations, including a 5.5 percent rise for its products and trade-related businesses, which accounted for 94 percent of earnings.

JP Morgan analysts said Intertek's profit was 4.7 percent higher than they expected, with an acceleration in organic revenue growth in May and June due to a slower pace of decline at its resources division, margin improvements and continued strong cash conversion.

JP Morgan raised its target price for the stock to 4,736 pence from 4,469 pence. Intertek's shares were trading 5 percent higher at 4,518 pence at 0720 GMT, making it the third top gainer on London's blue-chip <.FTSE> index.

The company said it was well positioned to deliver solid like-for-like revenue growth with robust margin progression at constant currencies and strong cash conversion in 2017.

"The $250 billion global quality assurance industry has attractive structural growth prospects ... We are uniquely positioned to seize these exciting growth opportunities," Chief Executive André Lacroix said in a statement.

(Reporting by Esha Vaish and Justin George Varghese, editing by David Clarke)

By Esha Vaish

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INTERTEK GROUP
10/19 INTERTEK : CPSC Commissioner Joe Mohorovic to Join Dentons
10/17 INTRODUCING INTERTEK INLIGHT : Maximising Your Supply Chain Resilience
10/17 INTRODUCING INTERTEK INLIGHT : Maximising Your Supply Chain Resilience
10/13 INTERTEK : Quango chief Wilson receives pay rise in last full year as head of Sc..
10/12 INTERTEK : joins expert group to help shape tidal energy resource assessment and..
10/11 INTERTEK : Food Services in Bremen Goes from Strength to Strength
10/11 INTERTEK : to Exhibit at A+A Expo 2017 in Germany
10/10 INTERTEK : Food Services in Bremen goes from strength to strength
10/09 INTERTEK : awards 50 Egyptian fish producers Production Quality Certificate
10/09 INTERTEK : awards 50 Egyptian fish producers “the Production Quality Certi..
More news
News from SeekingAlpha
08/01 Intertek Group Plc's (IKTSF) CEO Andre Lacroix on Q2 2017 Results - Earnings ..
08/01 Intertek Group Plc 2017 Q2 - Results - Earnings Call Slides
08/01 Intertek Group Plc reports 1H results
05/26 Intertek Group's (IKTSF) CEO Andre Lacroix on 2017 May Trading Update Call (T..
05/26 Intertek Group Plc reports 4M trading update
Financials ( GBP)
Sales 2017 2 771 M
EBIT 2017 449 M
Net income 2017 289 M
Debt 2017 609 M
Yield 2017 1,38%
P/E ratio 2017 28,89
P/E ratio 2018 26,13
EV / Sales 2017 3,21x
EV / Sales 2018 3,02x
Capitalization 8 287 M
Chart INTERTEK GROUP
Duration : Period :
Intertek Group Technical Analysis Chart | ITRK | GB0031638363 | 4-Traders
Technical analysis trends INTERTEK GROUP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 45,6  GBP
Spread / Average Target -11%
EPS Revisions
Managers
NameTitle
André Lacroix Chief Executive Officer & Executive Director
David Edward Reid Chairman
Edward Leigh Chief Financial Officer & Executive Director
Ann-Michele Bowlin Chief Information Officer
Pamela Louise Dame Makin Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INTERTEK GROUP47.52%10 927
CINTAS CORPORATION30.81%16 180
ALLIANCE DATA SYSTEMS CORPORATION4.76%13 281
VANTIV INC15.92%12 334
UNITED RENTALS, INC.36.69%12 213
BUREAU VERITAS22.76%11 729