Intertek Group PLC on Tuesday said it is on track to deliver a strong 2024 with improved prospects for its Consumer Products unit.

The consumer product testing and certification services provider said like-for-like revenue rose 6.6% on-year at constant currency between July and October, picking up speed from a 6.1% climb in the first-half of 2024.

Year-to-date, like-for-like revenue is up 6.3% at constant currency.

At actual rates, overall revenue was 1.8% higher on year at £1.15 billion in the four months to October. It rose 1.6% like-for-like at actual rates.

Intertek highlighted revenue acceleration in the Consumer Products arm, where like-for-like, constant currency growth stepped up to 9.4% in the four months from 6.0% in the first-half.

The firm noted ‘strong demand’ in Corporate Assurance with 9.9% like-for-like revenue growth in the period, as well as in Health and Safety with 9.1% like-for-like revenue growth.

Growth picked up in China with like-for-like revenue up 7.4% in the four month period, rising from 5.6% in the first half, driven by Consumer Products.

Intertek hailed strong margin progression driven by divisional mix, pricing, operating leverage, cost controls and productivity improvements. Daily cash management discipline resulted in excellent free cash flow, it added.

‘We delivered a strong performance in the July to October period with Consumer Products, Corporate Assurance and Health & Safety, which represent 74% of group earnings, growing like-for-like revenue 9.5%, while trading performance in Industry and Infrastructure and the World of Energy was in line with guidance.’ Chief Executive Andre Lacroix said.

‘Given our first half performance and the high quality of earnings in this latest four-month period, the group is well on-track to deliver a strong performance in 2024, with mid-single digit LFL revenue growth at constant currency, strong margin progression and an excellent free cash flow performance.’

For 2024, Intertek raised its full year guidance for the Consumer Products division. This is now expected to deliver high-single digit like-for-like revenue growth at constant currency. In August, the company forecast mid-single-digit like-for-like constant currency revenue growth from the division.

The Corporate Assurance, Health & Safety and World of Energy divisions are still expected to deliver high-single digit like-for-like revenue growth at constant currency. The Industry & Infrastructure related businesses is forecast to deliver a low-single digit like-for-like revenue performance at constant currency.

Intertek is ‘well positioned to deliver a strong performance in 2024 and 2025,’ it asserted.

Shares in Intertek were 1.4% higher at 4,576.00 pence each in London on Tuesday morning. The wider FTSE 100 index was down 0.4%.

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