Business
Intertek Group plc - Final Results
Intertek Group plc - Final Results.
About this update from Intertek Group Plc
[{"type":"text","content":"\n \nRNS Number : 8136R Intertek Group PLC 05 March 2019 \n\nFor a printer friendly version of this announcement, please click on the link below: -\nhttp://www.rns-pdf.londonstockexchange.com/rns/8136R_1-2019-3-4.pdf\n2018 FULL YEAR RESULTS ANNOUNCEMENT\n5 MARCH 2019\n\n\n\n\nRevenue Acceleration, Robust EPS Growth and Strong Cash\n\n\n\n\n2018 Year Highlights\n· Revenue growth: +4.7% at constant currency rates, +1.2% at actual rates\n· Good organic revenue growth of +3.7% at constant rates: Products +5.2%, Trade +2.2%, Resources +0.3%\n· Record adjusted operating margin of 17.2%: +40bps at constant rates, +30bps at actual rates\n· Adjusted operating profit of £482m: +6.9% at constant rates, +3.0% at actual rates\n· Adjusted diluted EPS: +7.7% at constant rates, +3.5% at actual rates\n· Statutory net profit after tax of £305.2m: +3.8% at constant rates, -0.4% at actual rates\n· Free cash flow of £350.6m, +2.6% year on year driven by strong cash conversion\n· Full year dividend per share of 99.1p, an increase of 39%\n· Acquisitions in high growth and high margin sectors\n \nA video outlining the Full Year Results is available on the Group's website - http://www.intertek.com/\n\n\n\n\nAndré Lacroix: Chief Executive Officer statement\n\n\n\n\n \n\"Intertek is going from strength to strength, making consistent progress on strategy and performance. We are benefitting from higher demand from our customers for our global Total Quality Assurance solutions in our Products, Trade and Resources divisions. \nIn 2018, we have seen revenue growth acceleration with 3.7% organic revenue growth at constant rates with continuing robust performance in our Products division, solid performance in Trade and a performance improvement in Resources. Our recent acquisitions in high margin and high growth areas performed well.\nThe Group has a high margin and highly cash generative earnings model. In 2018, we made continued progress on margin, profitability and free cash flow, with a record margin of 17.2% up 40bps, EPS growth of 7.7% and a cash conversion of 126%. In line with our new dividend policy, that targets a payout ratio of circa 50%, we have announced a full year dividen...