Energy sector boosted testing firm Intertek

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Industrial services firm Intertek, which appointed Scottish Enterprise boss Lena Wilson as a non-executive director in July, reported better-than-expected profits this morning.

The group, which specialises in testing products for other firms and has a laboratory in Aberdeen, said pre-tax profits grew 19 per cent in 2012, to £308.4 million thanks to demand from the energy sector.

The firm has been on the acquisition trail and reported the completion of two deals this morning. But its revenues also grew organically by 8.6 per cent as the firm hailed booming markets in Asia, Australia and the Middle East.

Chief executive Wolfhart Hauser said the energy infrastructure market had been the stand out performer for Intertek.

“These results underline the resilient nature of the growth drivers in our chosen quality markets and our ability to capture growth and deliver value to shareholders through acquisitions and organic investment,” he added.

“Whilst economic conditions remain uncertain, we are confident in the opportunities embedded across our portfolio of industries and countries. We therefore will continue to follow our established growth strategy which we expect to continue to deliver high single digit organic revenue growth, margin enhancement and value adding acquisitions.”