Intertek : Minor disappointment on growth offset by a more robust margin
>Interim results broadly in line - Intertek has reported H1 2018 results broadly in line with our expectations. Sales totalled £ 1.35bn, down -1.8% y-o-y of which -5.7% linked to the negative forex effect. Organic growth reflected a sequential improvement vs H2 2017 to 3.4%, but implies a deceleration in the pace of growth over the last two months of the year vs 4% from January to April due to one fewer working day. The EBITA margin was stronger than expected at 16.8%...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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