StockMarketWire.com - Intertek reported a rise in revenues for the first four months of the year as a recent string of acquisitions in 'attractive' growth and margin sectors bolstered growth, keeping the company on track to meet its expectations.

For the 4 months to 30 April, group revenue rose 7.3% to £924.3m at actual rates, with the products, trade and resources divisions delivering growth of 5.5%, 6.5% and 2.9%, respectively.

Revenue growth was driven by 'broad-based organic growth of 3.3% at constant rates, by the contribution of the acquisitions we made recently in attractive growth and margin sectors and by a 200bps benefit due to foreign exchange translation,' the company said.

On the M&A front, the company said it was 'well positioned' to seize the attractive external growth opportunities in a 'very fragmented industry.'

Intertek remained on track to deliver its 2019 targets of 'good organic revenue growth at constant rates, with moderate margin expansion and strong cash conversion.,' the company said.

'Given a good start to the year, we expect good organic revenue growth at constant currency rates in each of our three divisions: Products, Trade and Resources,' it added.

'Looking further ahead, the global Assurance, Testing, Inspection and Certification industry will continue to benefit from exciting growth prospects driven by an increased focus of corporations on risk management, global trade flows, global demand for energy, expanding regulations, more complex supply chains, technological innovations and increased demand for higher quality and more sustainable products.'




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