The Intertek Group plc directors have approved an interim dividend of 37.7p per share (H1 22: 34.2p) to be paid on 6 October 2023 to shareholders on the register at close of business on 15 September 2023.
Other financial highlights include:
• Revenue of £1,640.0m, +8.3% at constant rates and +9.9% at actual rates
• LFL revenue growth of +7.1% at constant rates, highest LFL revenue growth in the last 10 years
• JLA, SAI and CEA acquisitions performing well, and Controle Analitico integration on track
• Adjusted operating profit of £245.4m, +13.3% at constant rates and +12.9% at actual rates
• Adjusted operating margin of 15.0%, +70bps at constant rates and +40bps at actual rates
• Adjusted diluted EPS of 95.2p, +10.6% at constant rates and +10.1% at actual rates
• Daily cash discipline drives strong growth in operating cash flow of 13.6%
• Robust adjusted free cash flow of £79.6m and a strong balance sheet with 1.1x net debt to EBITDA
• ROIC of 19.3%, +120bps year on year at constant rates and +260bps at actual rates
• Cost reduction programme targeting higher annualised savings of c£19m with £7-8m expected in 2023
• Enhanced segmental disclosure to provide a deeper understanding of ATIC structural growth drivers
• 2023 outlook: Mid-single digit LFL revenue growth, margin progression and strong free cash flow
• AAA Growth Strategy in place to unlock the significant value growth opportunity ahead
