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Testing firm Intertek's revenue rises on products unit strength

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(Reuters) – British testing company Intertek Group <ITRK.L> reported a 4.4 percent rise in revenue at constant currency in the first four months of the year, helped by growth in its products division and contributions from recent acquisitions.

The company said it is on track to deliver 2018 targets of good organic revenue growth at constant rates, along with moderate margin expansion.

Intertek, along with its peers like Switzerland’s SGS <SGSN.S> and France’s Bureau Veritas <BVI.PA>, are benefiting from expanding regulations, notably for food safety and e-commerce, and have recently seen their minerals business recover.

Alongside carrying out safety tests on trains, toys and a range of other products, the FTSE 100 company also tests oil and equipment.

The company said its resources-related businesses saw stable trading performance in the period and reported an organic revenue growth of 0.3 percent on robust growth in demand for testing activities in its minerals business.

Revenue from Jan. 1 to April 30 fell 2.5 to 861.2 million pounds ($1.15 billion) at actual rates, the company said.

Intertek, which acquired Malta-based Aldo Abela Surveys and Colombia’s Proasem SAS this year, said its products-related businesses delivered a 6.6 percent organic revenue growth at constant rates.

($1 = 0.7483 pounds)

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Sunil Nair)

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