20th Apr 2016 06:41
LONDON (Alliance News) - Business services company Rentokil Initial PLC on Wednesday said revenue grew in the first quarter, primarily driven by acquisitions.
The FTSE 250-listed group, best known for its pest control business, said total first quarter revenue hit GBP472.0 million, with GBP468.1 million from its ongoing operations.
Revenue from ongoing operations grew 12% year-on-year in the quarter at constant currencies, with 2.8% of this growth organic and the balance driven by acquisitions.
Pest control performed well in the quarter, with organic growth hitting 6.4%, while organic growth in Rentokil's hygiene business was 2.3%.
"I am encouraged by our performance in the first three months of this year, in particular by the rate of organic growth in our North America Pest Control operations and the ongoing Steritech integration. We remain confident that the business will deliver a performance in line with our expectations for 2016," said Rentokil Chief Executive Andy Ransom.
By Sam Unsted; [email protected]; @SamUAtAlliance
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