LONDON, May 15 (Reuters) - British product-testing firm Intertek Group is on course to deliver its guidance for this year and said on Friday it expected to deliver underlying revenue growth in mid-single-digit figures over the medium term.
“In the first four months of 2015, the Group performed in line with our expectations,” said CEO Wolfhart Hauser, who will retire after 10 years in the role.
Intertek, which tests products from children’s toys to barrels of oil to ensure they comply with regulations, reported a 3.3 percent rise in revenue for the four months to April 30.
“As anticipated, market conditions in oil and gas capex and minerals remained weak, reducing the overall growth rate in the period,” he said.
“Across the medium term the company continues to expect to deliver mid-single digit organic revenue growth, as oil and gas capex headwinds ease and with its strong exposure to long-term structural growth markets,” it said in a statement. (Reporting by Li-mei Hoang; editing by Sarah Young and Jason Neely)