IIOC member Intertek has posted its results for the first half of 2021.
At 1317.6m GBP revenue was down 1%, but increased by 4.8% at constant currency. Like-for-like revenue growth was ‘robust’ at 5.8% at constant currency.
Within these results, the Product Division registered a ‘strong performance’ with revenue up by 2.4% (8.3% constant currency). Like-for-like revenue grew by 3.7% (9.7% constant currency.) The Business Assurance area had double digit like-for-like growth, with the main growth drivers described as: ‘Increased focus of corporations on supply chain resilience and risk management; sustainability; increased focus on ethical and sustainable supply’.
In the report, Intertek discuss the future acquisition of SAI Global assurance. Intertek comments that, ‘The strategic fit of the SAI Global Assurance portfolio with Intertek is excellent from a geographic standpoint as we will strengthen our scale position in attractive growth countries. Specifically, we will benefit post acquisition from a stronger market position in Australia, the USA, Canada, the UK and China.
The strategic fit of the SAI Global Assurance portfolio with Intertek is also excellent from a service standpoint as we will expand our Audit offering in high growth sectors. Specifically, we look forward to getting additional scale in Food, Agriculture, Quick Service
Restaurant, Sustainability and Global Market Access.’