LONDON (dpa-AFX) - Intertek Group Plc (ITRK.L), a British quality assurance provider, reported Tuesday that revenues for the four months to October increased 1.8 percent on a reported basis, and 1.6 percent on a like-for-like basis, driven by growth in all divisions, except Industry and infrastructure.
The company further said it is well positioned to deliver a strong performance in 2024 and 2025.
In its trading statement, revenues from July to October increased to 1.146 billion pounds from 1.126 billion pounds a year ago. At constant currency rates, revenues grew 6.8 percent, and the growth was 6.6 percent LFL constant currency basis.
Consumer Products revenues grew 4.4 percent on LFL basis, driven by double-digit growth in Softlines. The company also recorded strong demand in Corporate Assurance and in Health and Safety.
Looking ahead, André Lacroix, Chief Executive Officer, said, 'Given our first half performance and the high quality of earnings in this latest four-month period, the Group is well on-track to deliver a strong performance in 2024, with mid-single digit LFL revenue growth at constant currency, strong margin progression and an excellent free cash flow performance.... We will continue to capitalise on our high-quality earnings model, creating sustainable growth and value based on the compounding effect, year after year, of mid-single digit LFL revenue growth, margin accretion, strong cash generation, and disciplined investments in high-growth, high-margin segments.'
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