Rentokil reports 'strong financial results' with big rise in revenue
Rentokil Initial – which has a specialist hygiene base in Dudley – is reflecting on 'strong financial results' after releasing its yearly results.
The British pest control company saw statutory revenue up 25.6 per cent to £3.71bn for the 12 months to December 31, up from from £2.96bn.
Pre-tax profit fell 9.1 per cent to £296m from £325m but the company said this was due to 'one-off and adjusting items, and interest related to the Terminix transaction'.
Andy Ransom, Chief Executive of Rentokil Initial plc, said: "Our strong financial results, with organic revenue growth of 6.6 per cent, demonstrate the resilience of our business model.
"We continue to successfully manage cost inflation, while driving investment in our services and people to sustain high levels of customer and colleague retention.
"All of this has been achieved alongside the landmark acquisition of Terminix, reinforcing Rentokil Initial as the largest pest control company in the world. Early progress on integration has been excellent."
He added: "We start the new calendar year with confidence in our plans, both operational and strategic. This is underpinned by the Company's inherently resilient business model as we continue to offset inflation with pricing and the early headway made in delivery of Terminix acquisition benefits.
"For the full year, notwithstanding the prevailing macroeconomic challenges, we expect continued good underlying trading momentum."
