Rentokil Initial, FTSE, Business, UK news Business | The Guardian
Profits will fall short of the £776m expected, with the company blaming a slowdown in demand for termite services in North AmericaWeaker demand for termite extermination services sent shares in Rentokil Initial crashing by 19% after the pest control company warned of lower profits caused by a slowdown in North America.The FTSE 100 company, which became the biggest pest control company in the world in 2021 with a $6.7bn (£5.14bn) takeover of US rival Terminix, warned that adjusted profits were likely to be below £700m – short of the £776m expected by analysts. Revenue growth in North America was now expected to be about 1% in the second half of 2024. Continue reading…
Profits will fall short of the £776m expected, with the company blaming a slowdown in demand for termite services in North America
Weaker demand for termite extermination services sent shares in Rentokil Initial crashing by 19% after the pest control company warned of lower profits caused by a slowdown in North America.
The FTSE 100 company, which became the biggest pest control company in the world in 2021 with a $6.7bn (£5.14bn) takeover of US rival Terminix, warned that adjusted profits were likely to be below £700m – short of the £776m expected by analysts. Revenue growth in North America was now expected to be about 1% in the second half of 2024.
