Rentokil Earnings Rise on Demand From Outside Europe
Rentokil Initial Plc (RTO), a U.K. services company, reported an increase in profit and revenue for the first half as growth accelerated in the second quarter and business outside Europe picked up.
The company, which offers pest control and hygiene services, posted a 5.2 percent increase in adjusted operating profit to 113 million pounds ($175 million). Sales gained 3.7 percent to 1.2 billion pounds, the company said in a statement.
“Conditions in continental Europe continue to be challenging” but business in other regions, particularly China, India and Vietnam had “notably strong performances,” the West Sussex, England-based company said. Profit in Asia rose 43.5 percent.
The disposal of City Link, a loss-making parcel delivery service, resulted in a 39 million-pound one-off loss in the second quarter.
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