Intertek Group PLC
21 June 2004
Intertek Group plc ('Intertek')
Pre Close Trading Statement
Further to the trading update given at the AGM on 14th May 2004, Intertek is
performing strongly although the growth rate expressed in pounds sterling is
reduced by the large proportion of profits made in US Dollar or US Dollar
related currencies and the weakness of the US Dollar.
Labtest's turnover and profit are growing well, continuing to benefit from a
strong market resulting in increased volumes of textile and toy testing
globally, and profit margins are being maintained. China is continuing to expand
rapidly.
Caleb Brett's cargo inspection business in America, which accounts for
approximately half of the cargo inspection business, is benefiting from the
action taken at the end of last year to reduce the cost base. However, some
parts of Europe and the FSU are still performing poorly. Outsourcing is growing
well and new contracts with ChevronTexaco and Avecia Ltd have been won this
year. Outsourcing now accounts for approximately 28% of the division's sales.
ETL SEMKO's safety testing and certification of electrical and building products
is making good progress, especially in Asia. Trading in the Americas has
improved, and all the major retailers are now accepting the Intertek owned ETL
safety label on their electrical and electronic products. The previously
announced acquisition of Entela Inc, the automotive parts testing company, has
further strengthened the growth prospects of this division.
All the main contracts in FTS are continuing which will ensure the division has
good results.
The Interim results will be announced on 6th September 2004.
For further information please contact:
Aston Swift, Treasurer and Investor Relations
Telephone: +44 (0) 20 7396 3400 aston.swift@intertek.com
Katie Macdonald-Smith, Tulchan Communications
Telephone: +44 (0) 20 7353 4200 intertek@tulchangroup.com
Corporate website: www.intertek.com
High resolution images of Intertek Group plc businesses are available to
download, free of charge from www.vismedia.co.uk.
About Intertek
Intertek is a leading international testing, inspection and certification
organisation which assesses customers' products and commodities against a wide
range of safety, regulatory, quality and performance standards and in some
cases, certifies the management systems of customers. Intertek has over 270
laboratories with more than 12,000 people around the world and is increasingly
undertaking outsourced testing work for its customers.
This information is provided by RNS
The company news service from the London Stock Exchange
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