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.