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Intertek Group PLC - London-based quality assurance service provider - Says current trading for 2023 is in line with guidance. Expects to invest around £115 million to £125 million in capital expenditure and financial net debt to be in the range of £630 million to £680 million in 2023. Announces ’Intertek 30 AAA’ growth strategy, including plans for a ‘stronger portfolio poised for faster growth’, targeting mid-single-digit like-for-like revenue growth at constant currency and to return margin to 17.5% peak ‘and beyond’. This is alongside higher cash generation to fuel growth investments and deliver strong returns, as well as ‘more agile organisation and high-performance capability to unlock significant value growth opportunity’.
Current stock price: 4,195.00 pence, up 1.5% on Wednesday
12-month change: down 16%
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