IIOC member Intertek posts its 2020 full year results, with revenue at 2741.7m GDP, down 8.2% on 2019 (6.7% at constant currency).
Specifically, in the Product area, Intertek’s Business Assurance business, ‘delivered a solid like-for-like (LfL) revenue performance in H2 2020, resulting in a mid‐single digit decline in LfL revenue on a full year basis. The easing of lockdown restrictions in the second half has driven a rebound in the number of ISO audits in some of our operations, while we continue to benefit from attractive growth in supply chain assurance, the continuous focus on ethical supply, the increased needs of corporations for sustainability assurance and the strong growth in our People Assurance segment.’ Year-on-year growth is expected in 2021.
With revenue up 8% between H2 and H1 in 2021, the pandemic was a key influence on the Intertek results. But, importantly Intertek notes that, ‘the COVID‐19 global pandemic has made the case for Total Quality Assurance clearer and stronger for our clients.’
Some of the key opportunities into 2021 reflect building a, ‘better and safer world for all post‐COVID‐19:
• Safer, more diversified supply chains with greater traceability, improved intelligence and increased resilience
• A lower carbon economy, stay‐local lifestyles, more remote working, distance learning and online shopping
• Better personal safety, higher health, hygiene and wellbeing standards and greater investment in healthcare’.
A full set of results can be viewed here Intertek 2020 Full Year Results
In addition Intertek’s results video is available here.