Rentokil reported H1 FY16 results slightly ahead of our estimates. The lfl revenue increased by 2.5% (vs H1 15: +1.9%; our estimate: +0.7%), driven by a better performance across all business segments. The Pest control business grew by 5.5% on an organic basis (vs H1 15: 4.8%; our estimate: +4.5%; accounts for c.50% of the group’s revenue), on the back of strong performance across all geographies, especially North America (H1 16: +4.7% vs H1 15: +2.9%). Despite ongoing challenges in the
10 Aug 2016
Pest control and digital leadership to propel future growth
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Pest control and digital leadership to propel future growth
Rentokil Initial plc (RTO:LON) | 415 -14.1 (-0.8%) | Mkt Cap: 10,477m
- Published:
10 Aug 2016 -
Author:
Nishant Choudhary -
Pages:
3
Rentokil reported H1 FY16 results slightly ahead of our estimates. The lfl revenue increased by 2.5% (vs H1 15: +1.9%; our estimate: +0.7%), driven by a better performance across all business segments. The Pest control business grew by 5.5% on an organic basis (vs H1 15: 4.8%; our estimate: +4.5%; accounts for c.50% of the group’s revenue), on the back of strong performance across all geographies, especially North America (H1 16: +4.7% vs H1 15: +2.9%). Despite ongoing challenges in the