25th Feb 2016 08:23
LONDON (Alliance News) - Business services provider Rentokil Initial PLC on Thursday hiked its dividend as its underlying results came in strong for 2015, helped by good performances in its pest control and hygiene businesses.
The FTSE 250-listed company, known for its pest control services, said its pretax profit for the year dipped to GBP159.0 million from GBP163.2 million, due to one-off costs. Adjusted pretax profit, however, stripping out exceptional items, increased to GBP198.0 million for the year, up 3.8% and up 13% in constant currencies as a weak euro dragged.
Revenue rose to GBP1.76 billion from GBP1.74 billion, partly driven by acquisitions and also by good organic growth in its pest control and hygiene business. This was partially offset by a weaker performance in its workwear unit, which was hit by challenging conditions in the French and Benelux markets.
Rentokil said it would pay a final dividend of 2.06 pence per share, taking its total dividend up 13% year-on-year to 2.93p.
"2015 has been a year of further improvement at Rentokil Initial. Prospects in the majority of our markets are good and, while conditions in France and Benelux remain difficult, we are confident of making further progress in the coming year," said Chief Executive Andy Ransom.
By Sam Unsted; [email protected]; @SamUAtAlliance
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