30th Jul 2015 07:33
LONDON (Alliance News) - Business services company Rentokil Initial PLC on Thursday said its pretax profit ticked higher in the first half, most thanks to lower financing charges, as revenue pushed slightly higher.
The FTSE 250-listed company said its pretax profit for the first half to the end of June was GBP70.2 million, up from GBP66.8 million a year earlier. The profit was driven by lower financing costs, as the group saw a rise in revenue to GBP855.3 million from GBP854.4 million wiped out by higher operating expenses in the half.
Rentokil said its pest control business was a particularly strong performer in the first half, with revenue growth of 9.6% in the half. It said its expectations for the whole business for the full-year are unchanged.
The group will pay an interim dividend of 0.87 pence per share, up 13% year-on-year.
Andy Ransom, Rentokil's chief executive, said the company performed well in the first half, though he said conditions in some European markets remain challenging.
"Overall I am encouraged by the progress that we have made over the last eighteen months and I am confident of delivering further value for shareholders as we enter the next phase in the execution of our plan," Ransom added.
Shares in Rentokil were down 1.3% to 144.00 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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