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Intertek chief signs off after a decade with business showing little growth

Published: 08:11 15 May 2015 BST

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Hauser retires today after a decade in charge. In that time the share price has motored ahead 256% as the company clambered into the blue chip index for UK stocks

Wolfhart Hauser, the chief executive of the FTSE 100 testing firm Intertek (LON:ITRK), will tell the company’s annual meeting later that business has been steady thus far this year rather than spectacular.

Hauser retires today after a decade in charge. In that time the share price has motored ahead 256% as the company clambered into the blue chip index for UK stocks.

The trading update revealed a subdued performance. Revenues were up 3.3% in the period, but most of that increase was the result of beneficial foreign exchange rate movements.

At constant currencies, the uptick was 0.3%, with an additional 0.6% from acquisitions.

Profit margins were broadly similar to last year.

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