Product testing and certification specialist Intertek has set fresh hurdles to win back favour with investors. By improving underlying revenue growth and margins, the FTSE 100 group hopes to revive a flagging share price, but there are potential stumbling blocks.
The group hopes to push annual like-for-like revenue growth up by mid-single digits and return the adjusted operating margin to a former peak of 17.5 per cent, and then some. Over the past decade, the former has been shaky at best, coming in at a low-single digit rate.
Performance over the past two years was better, at 5.6 per cent in 2021 and 4.9 per cent in 2022. But both years contained pandemic-related skews.
Intertek reckons it can squeeze better and more consistent growth by
