**Summary of Intertek Group PLC Trading Statement (25 November 2025):**
Intertek Group PLC reported robust trading performance for the July-October 2025 period, with year-to-date (YTD) revenue of £2.85 billion, reflecting a 4.6% growth at constant currency. Like-for-like (LFL) revenue grew by 4.3%, with an additional 0.3% growth from mergers and acquisitions (M&A). The company highlighted strong LFL revenue growth across its divisions
**Consumer Products**5.4% (driven by e-commerce, sustainability, and new product development).
**Corporate Assurance**6.6% (supported by supply chain resilience and ESG investments).
**Health and Safety**0.8% (with double-digit growth in Food but offset by declines in Chemicals & Pharma).
**Industry and Infrastructure**6.0% (boosted by energy and infrastructure projects).
**World of Energy**Stable (with growth in Caleb Brett and CEA, offset by declines in Transportation Technologies).
Intertek emphasized strong margin progression, driven by divisional mix, pricing, operational leverage, and cost controls. The company also highlighted excellent free cash flow and continued investment in innovation, including the launch of SupplyTek and Intertek AI². Three strategic acquisitions were completed in high-growth, high-margin segments, and the £350 million share buyback program is progressing well, with £328 million already repurchased.
The company reaffirmed its full-year 2025 guidance, expecting mid-single-digit LFL revenue growth at constant currency, strong margin progression, and excellent cash generation. Intertek is well-positioned for 2026, with similar growth expectations and a focus on achieving its 18.5%+ margin target.
CEO André Lacroix highlighted Intertek’s mission-critical role in providing ATIC (Assurance, Testing, Inspection, and Certification) solutions, driven by increasing client demand for quality, safety, and sustainability. The company remains confident in its AAA strategy for growth, disciplined capital allocation, and sustainable value creation for stakeholders.
Key financial metrics for 2025 include capital expenditure of £135-145 million, net finance costs of £51-52 million, and a targeted dividend payout ratio of 65%. Intertek expects net financial debt to be £925-975 million, within its leverage target.
Intertek’s five unique strengths—global scale leadership, customer excellence, disciplined performance management, high-performance talent, and a strong operating culture—position it for continued success in a highly attractive industry. The company is optimistic about its growth prospects, supported by structural demand drivers and a supportive macroeconomic environment.
| Metric | 2025 | 2024 | Change at Actual Rates | Change at Constant Currency | ||||
|---|---|---|---|---|---|---|---|---|
| 10 Months (£m) | 4 Months (£m) | 10 Months (£m) | 4 Months (£m) | 10 Months | 4 Months | 10 Months | 4 Months | |
| Group Revenue | 2,850.0 | 1,177.3 | 2,815.2 | 1,145.7 | 1.2% | 2.8% | 4.6% | 4.6% |
| Like-for-like Revenue | 2,841.0 | 1,171.0 | 2,813.8 | 1,145.6 | 1.0% | 2.2% | 4.3% | 4.1% |
| Consumer Products Revenue | 815.9 | 334.2 | 791.9 | 324.0 | 3.0% | 3.1% | 6.7% | 5.4% |
| Corporate Assurance Revenue | 428.5 | 177.3 | 411.8 | 169.7 | 4.1% | 4.5% | 7.5% | 6.6% |
| Health and Safety Revenue | 284.3 | 120.6 | 282.2 | 115.4 | 0.7% | 4.5% | 4.0% | 5.1% |
| Industry and Infrastructure Revenue | 715.2 | 297.9 | 706.6 | 286.1 | 1.2% | 4.1% | 4.8% | 6.5% |
| World of Energy Revenue | 606.1 | 247.3 | 622.7 | 250.5 | (2.7%) | (1.3%) | 0.0% | 0.0% |
| Net Financial Debt (FY) | £925-975m | Not Provided | Not Provided | Not Provided | ||||