The Intertek Board has approved an interim dividend of 34.2p per share, which is in-line with both prior year (H1 20: 34.2p) and H1 19. The dividend will be paid on 7 October 2021 to shareholders on the register at 17 September 2021.
Other financial highlights include:
●Revenue of £1,317.6m: +4.8% at constant rates; -1.0% at actual rates
●Robust L4L revenue of +5.8% at constant rates: Products +9.7%; Trade +1.1%; Resources -1.6%
●L4L revenue growth accelerated in May and June to 12.0%: Products +13.9%; Trade +8.5%; Resources +9.5%
●Adjusted operating profit of £201.7m with operating margin increasing 260bps at constant rates to 15.3%
●Adjusted diluted EPS of 78.2p: +31.4% at constant rates; +23.9% at actual rates; statutory diluted EPS of 70.9p
● Strong Cash conversion of 135%, robust balance sheet with net debt of £435m
● Investments to seize attractive organic and inorganic growth opportunities
●Return on invested capital of 23.4%, +400bps YoY and +360bps at constant rates
●Well positioned to benefit from the growth acceleration in the global Quality Assurance industry
