5th Nov 2015 08:04
LONDON (Alliance News) - Rentokil Initial PLC on Thursday said its revenue for the year to date is broadly flat but dipped slightly in the third quarter, though its guidance for the full year remains unchanged.
The FTSE 250-listed business services company said its revenue for the nine months to the end of September was USD1.29 billion, flat year-on-year but up 4.3% in constant currencies. The story was much the same for the third quarter, where revenue came in at USD438.0 million, down 0.4% but 4.1% higher in constant currencies.
Rentokil said it has seen robust growth in its Emerging and Growth divisions, but some weakness in its Protect and Enhance and Manage for Value units. Performance in the UK, North America, Asia Pacific and Latin America has been strong, driven by its pest control business. Conditions in France and the Netherlands, however, are still poor, though Europe revenue is flat year-on-year.
"We continue to execute our strategy at pace with the recent acquisition of Steritech providing us with a high quality business with national scale in a key growth market. The performance in the majority of the group continues to be strong although trading in Europe, France in particular, remains challenging. Our guidance for the full year is unchanged," said Andy Ransom, Rentokil's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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