Intertek 2017 full year results
Continued progress in revenue growth: +3.0% at constant currency rates, +7.9% at actual rates
· Organic revenue growth of +2.1% at constant rates: Products +5.5%, Trade +3.0%, Resources -8.6%
· Record adjusted operating margin of 16.9%: +110bps at constant rates, +90bps at actual rates
· Double-digit adjusted operating profit growth to £468m: +10.0% at constant rates, +14.2% at actual rates
· Strong growth in adjusted diluted EPS: +10.4% at constant rates, +14.3% at actual rates
· Net profit after tax up 12.8% to £306m
· Free cash flow of £342m, +7.4% year on year driven by strong cash conversion
· Full year dividend per share of 71.3p, an increase of 14.3%
· Targeted dividend payout ratio to increase to circa 50% from 2018
