Rentokil reported a Q1 18 trading update which was below our estimate as well as the market consensus. Q1 performance was downplayed by natural forces, such as: 1) the negative impact of last September’s hurricane in Puerto Rico (~0.5ppt), and 2) unseasonably cold weather in the US in the month of March. Segment-wise, both Pest Control and Hygiene recorded positive growth, marginally offset by a sluggish Protect & Enhance segment (which again turned negative). We will tweak our esti
24 Apr 2018
Q1 growth - downplayed by natural forces
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Q1 growth - downplayed by natural forces
Rentokil Initial plc (RTO:LON) | 472 0 0.0% | Mkt Cap: 11,908m
- Published:
24 Apr 2018 -
Author:
Ankush Kathuria -
Pages:
3
Rentokil reported a Q1 18 trading update which was below our estimate as well as the market consensus. Q1 performance was downplayed by natural forces, such as: 1) the negative impact of last September’s hurricane in Puerto Rico (~0.5ppt), and 2) unseasonably cold weather in the US in the month of March. Segment-wise, both Pest Control and Hygiene recorded positive growth, marginally offset by a sluggish Protect & Enhance segment (which again turned negative). We will tweak our esti