Intertek unveils jump in profit

Testing group Intertek this morning posted a 19 per cent jump in full-year profit, boosted by growth from emerging markets.

Pre-tax profit came in above expectations at £308.4m for the full year, on revenues 17 per cent higher at £2.05bn.

The FTSE 100 firm, which tests products from toys and clothes to oil and renewable technology, made six bolt-on acquisitions last year in deals worth £40m.

Intertek's industry and assurance division, the group's largest by revenue, saw organic profit jump 19 per cent, delivering a 70 basis point improvement in margins to 11.6 per cent.

Its consumer goods division, which is a world market leader, saw the slowest organic profit growth of 4.5 per cent, though the firm said demand from China was and supplemented by "strong" growth in Turkey, Korea and Vietnam.

Separately, Intertek said it had completed two acquisitions in South Africa and Brazil worth £7m in total.