Intertek (LSE:ITRK) has opened a Strategic Review to assess whether separating its Testing & Assurance and Energy & Infrastructure operations, by sale or demerger, would “unlock their full potential”, and accelerate growth by creating two specialist, scale global ATIC businesses.
The two proposed businesses would be Intertek Testing & Assurance (Consumer Products, Corporate Assurance, Health & Safety; c.£1.9bn revenue in 2025) and Intertek Energy & Infrastructure (World of Energy; Industry & Infrastructure; c.£1.6bn in 2025). The review aims to deliver a sharper portfolio focus, faster in‑market execution and clearer capital allocation.
Trading momentum underpins the move. Q1 2026 like‑for‑like revenue grew 5.4% at constant currency — led by Corporate Assurance (+10.8%) and Consumer Products (+6.5%) — with Health & Safety +5.9%, Industry & Infrastructure +5.5% and World of Energy stable. The group cites continued margin progression, disciplined cash management and “strong free cash flow”.
“In a highly attractive global ATIC market, and since launching our differentiated AAA strategy in 2023, the Group has delivered mid‑single digit revenue growth and double‑digit EPS growth, both at constant currency.” — André Lacroix, Chief Executive Officer.
The Strategic Review is expected to be concluded and implemented by the middle of 2027.
