Intertek 2020 full years results

IIOA member Intertek posts its 2020 full year results with revenue at 2741.7m GDP, down 8.2% (6.7% at constant currency).

H2 results showed a recovery over H1 with the second half revenue 8% up on the first half of 2020. This optimism continues as Intertek state, ‘Post Covid-19, we expect the Total Quality Assurance market to grow faster than pre-Covid.’ Intertek expand on this by stating that, ‘ These opportunities to help foster a better and safer world for all post‐COVID‐19 are compelling, and range from:

• Safer, more diversified supply chains with greater traceability, improved intelligence and increased resilience
• A lower carbon economy, stay‐local lifestyles, more remote working, distance learning and online shopping
• Better personal safety, higher health, hygiene and wellbeing standards and greater investment in healthcare’.

Specifically, within the Products area, Intertek notes that, ‘Our Business Assurance business delivered a solid like-for-like revenue performance in H2 2020, resulting in a mid‐single digit decline in like-for-like revenue on a full year basis. The easing of lockdown restrictions in the second half has driven a rebound in the number of ISO audits in some of our operations, while we continue to benefit from attractive growth in supply chain assurance, the continuous focus on ethical supply, the increased needs of corporations for sustainability assurance and the strong growth in our People Assurance segment’. Year-on-year growth is expected in 2021.

A video summary of the 2020 Intertek results can be viewed here

• Intertek