Rentokil reported Q1 FY2021 results that were in line with our estimates. The ongoing revenue continued to register strong growth on the back of one-time disinfection services (although qoq lower) and higher pest control sales (the latter aided by a positive scope impact). However, the Core Hygiene (excluding disinfection services) and Protect & Enhance segments registered negative revenue growth. Having said that, all three businesses registered improvements during the quarter and we expect thi ....
22 Apr 2021
Solid Q1 results
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Solid Q1 results
Rentokil Initial plc (RTO:LON) | 413 7 0.4% | Mkt Cap: 10,423m
- Published:
22 Apr 2021 -
Author:
Vansh Mehta -
Pages:
3
Rentokil reported Q1 FY2021 results that were in line with our estimates. The ongoing revenue continued to register strong growth on the back of one-time disinfection services (although qoq lower) and higher pest control sales (the latter aided by a positive scope impact). However, the Core Hygiene (excluding disinfection services) and Protect & Enhance segments registered negative revenue growth. Having said that, all three businesses registered improvements during the quarter and we expect thi ....