Intertek : A good quality publication but no major surprises
>Four-month revenue in line with expectations - Intertek has published its four-monthly trading update (July-October). Revenue was £ 1,126m, down -1.3% in line with our forecast (€ 1,111m) and the Visible Alpha consensus (£ 1,136m) largely due to a negative forex effect of -7.2% (-7.9%e). Organic growth was 5.2% slightly above our forecast (4.5%e) and in line with the Visible Alpha consensus (5.2%). Acquisitions contributed 0.7% (vs 0.8%e).By division:Consu...Intertek Group provides Assurance, Testing, Inspection and Certification (ATIC) services. Co.'s segments comprised of Products, Trade and Resources. Co.'s products-related division consists of business lines that are focused on quality and safety of physical components and products, as well reducing risk through assessing the operating process and quality management systems of its customers. Co.'s trade division consists of three Global business lines, Cargo & Analytical Assessment, Government & Trade Services, and Agriculture business. Co.'s resources division consists of two business lines, Industry Services, and minerals business.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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