Rentokil enjoys profit rise
Pest control and hygiene group Rentokil Initial has rebounded from the pandemic with an 17.9 per cent boost in operating profits, which have soared to £346.5 million for the full year.
The group, which has a commercial cleaning base employing more than 100 at Castlegate Way in Dudley, saw its performance be powered by a 18.6 per cent growth in its pest control business and an 8.2 per cent rise in its core hygiene operations.
It has also contributed to a 5.5 per cent rise in overall revenues, which are now closing in on £3 billion.
The group has also reported free cash flow totalling £326.5m, alongside 52 acquisitions for the year – enough for one every week.
This includes 17 in North America, such as Terminix, which it acquired last December in a pricey £5bn deal, as it looks to expand into the US market.
Andy Ransom, chief executive of Rentokil, said: “The last two years have been challenging, but we have proved that we can both adapt and grow the business. With the worst of the pandemic hopefully behind us, and by building further on the momentum of 2021 in our core businesses, we are confident of delivering further good progress in the year ahead.”
