22nd Oct 2026 08:24
(Alliance News) - Rentokil Initial PLC on Thursday reported higher third-quarter revenue, backed its expectations and announced a USD200 million share buyback, while Chief Financial Officer Paul Edgecliffe-Johnson is set to retire in January.
Shares in Rentokil jumped 7.1% to 337.10 pence in London on Thursday morning, leading the FTSE 100 index which was down 0.7%.
The Crawley, England-based pest control and hygiene services provider said revenue rose 4.4% to USD1.89 billion in the three months to September 30, from USD1.81 billion a year earlier. At constant exchange rates, revenue increased 4.0%, with organic growth of 3.4%.
North American revenue rose 3.4% to USD1.18 billion from USD1.14 billion, with organic growth of 3.2%.
Within the region, Pest Control Services organic revenue increased 2.4%, supported by growth in residential pest control and termite services, alongside improved performance from commercial national accounts.
Rentokil said residential customer enquiries improved during September, with lead flow declining by around 1% after weaker trends in July and August.
International revenue increased 6.1% to USD714 million from USD673 million, with organic growth of 3.7%.
International Pest Control organic revenue rose 5.7%, accelerating from 5.4% in the second quarter. In the UK, core pest control organic revenue grew 9.2%, supported by pricing and improved customer retention.
Chief Executive Mike Duffy said: "I'm encouraged by the progress we've made since setting out our priorities in July to build the platform for sustainable organic growth through customer focus, sales and operational excellence, and business simplification."
Rentokil said it expects to deliver full-year 2026 profit in line with current market expectations.
The company also announced a USD200 million share buyback programme, expected to begin imminently and conclude by the publication of its annual results.
The buyback follows the agreed USD230 million sale of SOLitude Lake Management to Bain Capital, which is expected to generate net cash proceeds of around USD180 million.
Separately, Rentokil announced that CFO Paul Edgecliffe-Johnson will retire from his executive role and step down from the board on January 31, 2027, for family health reasons.
He will remain with the company in a senior advisory capacity while Rentokil searches for a permanent successor.
If no permanent replacement has been appointed by February 1, Group Financial Controller Sarah Sergeant will assume the CFO role on an interim basis.
By Eva Castanedo, Alliance News senior economics reporter
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