Intertek 2022 full year results

IIOA member Intertek posts its 2022 full year results with the headline increase in revenue of 8.2% at constant currency (+14.6% actual) to 3,193m GBP. This increase was made of a like-for-like increase in revenue of 4.9% (again constant currency).

Intertek notes that, ‘The Quality Assurance market is growing faster post Covid-19 as the demand for Quality Assurance solutions is
expanding across all our business lines given the growing stakeholder expectations in quality, safety and sustainability.’

Within the overall performance, the Products Division grew by 8.5% at constant currency, +15.3% actual, contributing revenue of 2,024.3m GBP.

In the Products Division, Intertek notes on Business Assurance, ‘The reduction of lockdown activities has driven a rebound in the number of ISO audits in some of our operations, while we continue to benefit from the 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’

Of the future, Intertek point out that, ‘Post Covid-19, the Quality Assurance market will grow faster as the demand for Quality Assurance solutions is expanding across all our business lines given the increasing stakeholder expectations in quality, safety and sustainability.’

As regards, the Outlook, Intertek state that, ‘We are entering 2023 with confidence given the re-opening of China, which has been operating with normal staffing levels since the beginning of the year… We expect the Group will deliver mid-single digit LFL revenue growth at constant currency.’

The full Intertek statement on their 2022 results can be viewed here, or the presentation.

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• Intertek
• Financial Results