LONDON (dpa-AFX) - Intertek Group plc (ITRK.L) reported that its revenue for the four month ended October 2020 declined 9.9% to 941.0 million pounds from last year. At constant-currency rates, revenue for the period was down 6.2%.
Like-for-like revenue for the period declined to 939.6 million pounds from 1.04 billion pounds in the previous year.
For the first 10 months of the year, revenue fell to 2.27 billion pounds from 2.49 billion pounds in the previous year.
The company said that it is on track to deliver a resilient fiscal year 2020 performance, with a mid-single digit Like for Like revenue decline at constant rates, a margin reduction year-over-year, and a net debt of 570 million pounds - 590 million pounds, before any M&A and any significant movement in currencies, lower than 2019.
In 2020, the company expects to deliver a mid-single digit decline in Like for Like revenue at constant currency in Products division.
In 2020, the company expects Trade division to deliver a high single digit decline in revenue at constant currency.
In 2020, the company expects Resources division to deliver a mid-single digit decline in revenue at constant currency.
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