Intertek: shares lower on slow start to year

(CercleFinance.com) - British testing and inspections group Intertek reported weaker-than-expected organic growth over the first three months of the year, sparking a fall in its London-listed shares this morning.


For the period from 1 January to 30 April, Intertek's revenue growth was 5.3% at constant exchange rates, of which 3.3% was organic.

By comparison, the testing firm posted organic revenue growth of 3.7% at constant exchange rates last year.

The company said that it is on track to deliver its 2019 targets of "good" organic revenue growth at constant rates, with moderate margin expansion and strong cash conversion.

However, this statement was not enough to convince investors, and the shares were down 1.7% at 5,096 pence on the London Stock Exchange.

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