Intertek holds guidance on strong revenue growth

Testing company Intertek held annual guidance as revenues rose 11% in the first four months of the year.

Group revenue hit £1.059bn in the period to April 30. On a like-for-like basis sales were up 6.5% on a constant currency basis, with products up 5.5%, trade 5.2% and resources 12.5%.

Intertek said its China operations had recovered well with 7.5% LFL revenue growth.

"For 2023, we continue to expect to deliver mid-single digit LFL revenue growth at constant currency driven by mid-single digit LFL revenue growth in products and trade and high-single digit revenue growth in resources. We continue to make progress on our margin and cash priorities and are on track to deliver our 2023 guidance," the company said in a trading update.

Reporting by Frank Prenesti for Sharecast.com