Intertek November 2021 trading update

November 25, 2021

IIOA member Intertek reports ‘strong progress’ in its trading update of H2 performance.

Like-for-like revenue for the 10 months from January to October 2021 grew to 2257m GBP (0.2% actual, 5.4% at constant currency). Within this, the most recent months of July to October 2021 saw revenue rise to 940.1m GBP (0.5% actual, 5.0% constant currency).

In the specifics of the Business Assurance, part of the Products division, the trading update notes that, (the) ‘Business Assurance business delivered a high-single digit LfL revenue growth in the July-October period resulting in double-digit LfL revenue growth on a YTD basis. The reduction of lockdown activities has driven a rebound in the number of ISO audits in some of our operations, while we continue to benefit from the 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’

Q3 (7 September 2021) saw the completion of Intertek’s acquisition of SAI Global Assurance. Intertek states that, ‘SAI Global Assurance further strengthens our Assurance offering by providing additional scale, enhanced geographic coverage and new capabilities. We are benefitting post acquisition from a stronger market position in Australia, the USA, Canada, the UK and China, and an expanded service capability in the Food, AgriWorld, Quick Service Restaurants, Sustainability and Global Market Access sectors’

For the 2021 outlook, Intertek, ‘are confident that the Group will deliver robust like-for-like revenue growth at constant currency in 2021, notwithstanding the lockdown restrictions in some of our global markets and the supply chain challenges that our clients are facing.’

Full information can be see here