Intertek Group Plc Reports Strong H1 2026 Growth and Adjusted Profit Increase

The Tip Desk · July 31, 2026 · 2 min read

The company reports a 5.9% increase in revenue and a 12.1% rise in adjusted operating profit, while reiterating a mid-single digit LFL revenue growth outlook for the full year.

Intertek Group Plc reported revenue of £1,771.3m for the first half of 2026, representing a 5.9% increase at actual rates and 6.1% at constant currency [7, 12]. Like-for-like (LFL) revenue grew 4.9% at constant rates, led by Corporate Assurance at 10.0%, followed by Consumer Products at 5.3%, Health and Safety at 6.3%, and Industry and Infrastructure at 4.5%, while World of Energy remained stable [8, 12].

Adjusted operating profit rose 12.1% at actual rates to £309.7m, with the adjusted operating margin increasing 100bps to 17.5% at constant exchange rates [8, 12]. Statutory operating profit was £281.5m, up from £246.8m in H1 2025. Adjusted diluted earnings per share increased 12.0% to 124.9p, though diluted earnings per share after separately disclosed items (SDIs) fell to 87.1p from 98.0p.

Cash flow performance was strong, with adjusted free cash flow reaching £138.5m, compared to £56.0m in the prior year [9, 12]. Statutory cash generated from operations was £327.6m. Financial net debt stood at £1,145.5m as of June 30, 2026, compared to £800.6m in H1 2025. During the period, the Group acquired Aerial PV Inspection GmbH, QTEST, and the assets of a solar PV laboratory in Ahmedabad.

For the full year 2026, Intertek expects mid-single digit LFL revenue growth at constant currency, continuous margin progression, and strong free cash flow [5, 6, 12]. The company forecasts capital expenditure between £135-145m and net finance costs in the £69-70m range. Financial net debt for FY26 is now expected to be between £800-£850m, a reduction from previous guidance of £930-£980m. The Board has recommended EQT's prospective acquisition of the Group at an offer value of £61.077 per share.