All the indications are, its supporters believe, that Intertek has reached the low point in the cycle, and the sort of double- digit growth the company has always enjoyed is on the way back again.
Intertek is a £4 billion company, not that well known, that made its reputation from the reliability of that revenue growth, achieved organically and from small bolt-on aquisitions. It provides testing for anything from oil out of the well to plastic bath ducks; as environmental standards become more stringent in the developing world, such business can only grow.
The company has hit a few headwinds, not really its own fault. As the graph shows, the shares have come back from a heady £34 last autumn to £27.06, up 173p, last