Asian growth boosts profits at Intertek

BRITISH testing firm Intertek posted a 14 per cent rise in first-half profit on Monday, as a booming mining industry in Asia and the Pacific rim drove strong growth in its commodities division.

Intertek, which tests products from toys and clothes to oil and renewable technology, said its adjusted pretax profit grew to £110.6m on revenues up 17 percent at £763.1m in the six months to the end of June.

The group said it recorded revenue growth across all of its markets, with sales at its commodities, commercial and electrical divisions helping to offset a slowdown at its key consumer unit, which it said would improve in the second-half.

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Sales at its commodities unit, which provides laboratory testing and technical services to the world’s energy, petroleum, chemical and mining industries, grew 12.2 per cent at constant exchange rates to £251.2m. Goldman Sachs analyst John Woodman called it solid set of results.