Rentokil reported Q1 FY17 trading numbers ahead of our estimates. Organic revenue increased by 3.5% (vs FY16: +3.0%, our estimate: +4.2%; excludes the businesses transferred to the Haniel JV), on the back of strong growth in the Pest control and Hygiene business (+5.6% and +3.1, respectively; jointly contributing c.75% of group revenue). The company once again clocked a healthy performance in the major operating regions (North America, Latin America, the UK and APAC), while France remained br
08 May 2017
Good start to FY17; M&A activity to drive future growth
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Good start to FY17; M&A activity to drive future growth
Rentokil Initial plc (RTO:LON) | 424 -5.5 (-0.3%) | Mkt Cap: 10,700m
- Published:
08 May 2017 -
Author:
Nishant Choudhary -
Pages:
3
Rentokil reported Q1 FY17 trading numbers ahead of our estimates. Organic revenue increased by 3.5% (vs FY16: +3.0%, our estimate: +4.2%; excludes the businesses transferred to the Haniel JV), on the back of strong growth in the Pest control and Hygiene business (+5.6% and +3.1, respectively; jointly contributing c.75% of group revenue). The company once again clocked a healthy performance in the major operating regions (North America, Latin America, the UK and APAC), while France remained br