Rentokil reported Q3 FY16 results slightly ahead of our estimates as well as market consensus. The lfl revenue increased by 3.1% (our estimate: +2.0%), once again driven by the Pest Control (+5.9% vs our estimate: +5%) and the Hygiene businesses (+3.2% vs our estimate: +2%). All operating regions registered strong organic revenue growth except for France and the Benelux, which continued to suffer due to challenging macro-economic conditions and a sluggish Workwear business. Total reported rev
15 Nov 2016
Core business propels growth momentum again
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Core business propels growth momentum again
Rentokil Initial plc (RTO:LON) | 420 0 0.0% | Mkt Cap: 10,608m
- Published:
15 Nov 2016 -
Author:
Nishant Choudhary -
Pages:
3
Rentokil reported Q3 FY16 results slightly ahead of our estimates as well as market consensus. The lfl revenue increased by 3.1% (our estimate: +2.0%), once again driven by the Pest Control (+5.9% vs our estimate: +5%) and the Hygiene businesses (+3.2% vs our estimate: +2%). All operating regions registered strong organic revenue growth except for France and the Benelux, which continued to suffer due to challenging macro-economic conditions and a sluggish Workwear business. Total reported rev