While the drop in the oil price has undermined current profitability, earnings look to be going nowhere for the third successive year. The underlying businesses are cash generative and appear to be of high quality. We view the change of chief executive positively and, although the benefits will emerge over the medium term, the positive initial reaction to the share price looks realistic, with middle and senior management likely to respond positively to the new challenges.
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Change for the better
Intertek Group plc (ITRK:LON) | 4,972 99.4 0.0% | Mkt Cap: 8,024m
- Published:
10 Aug 2015 - Author:
- Pages:
While the drop in the oil price has undermined current profitability, earnings look to be going nowhere for the third successive year. The underlying businesses are cash generative and appear to be of high quality. We view the change of chief executive positively and, although the benefits will emerge over the medium term, the positive initial reaction to the share price looks realistic, with middle and senior management likely to respond positively to the new challenges.