IIOC member Intertek has provided its trading statement for the period July to October 2019 and a summary of year to date.
In the year to date (first 10 months of the year), revenue grew at 4.7% (all figures constant currency) to £2487m. Within this, the July to October period saw growth of 4.5% to £1044.9m.
The year to date numbers for the Products division, which includes Business Assurance, saw revenue rise by 3.9% to £1499.7m.
The Business Assurance performance is reported by Intertek as, ‘Our Business Assurance business delivered good organic revenue growth as we continue to benefit from the increased focus of corporations on risk management, resulting in strong growth in Supply Chain Audits and increased consumer and government focus on ethical and sustainable supply.’
Of future prospects, with the Products division, Intertek notes that, ‘Mid- to long- term growth outlook: roducts division will benefit from mid- to long- term structural growth drivers including product variety, brand and supply chain expansion, product innovation and regulation, the growing demand for quality and sustainability from developed and emerging economies, the acceleration of e-commerce as a sales channel, and the increased corporate focus on risk.’