Rentokil Initial PLC 1st Quarter Results (9414L)
May 01 2015 - 2:00AM
UK Regulatory
TIDMRTO
RNS Number : 9414L
Rentokil Initial PLC
01 May 2015
RENTOKIL INITIAL PLC (RTO)
TRADING UPDATE
1 May 2015
(GBPm) Q1 2015 Growth
AER AER CER
Revenue 417.8 1.4% 5.4%
Revenue - ongoing operations(1) 415.9 2.2% 6.2%
Overview (CER)
Revenue from ongoing operations increased by 6.2% in Q1 of which
2.5% was organic growth and 3.7% was from acquisitions. Growth in
the Emerging (+26.4%) and Growth (+9.7%) quadrants was strong, with
revenue in the Manage for Value and Protect and Enhance quadrants
in line with last year.
The year has started well, driven by the UK, North America,
Asia, Pacific and Latin America. While conditions remain tough in
France and the Netherlands, ongoing revenue in the Europe region
was in line with last year.
Cash flow
Operating and free cash flow were ahead of the prior year in
Q1.
M&A
We acquired six businesses in the quarter, all in pest control
in our Emerging and Growth quadrants. Combined annual revenues of
the businesses acquired totalled GBP15m in the 12 months
immediately prior to acquisition.
Commenting on today's announcement Andy Ransom, Chief Executive,
said:
"With this encouraging start to the year, we are on track to
achieve our 2015 revenue, profit and cash expectations."
Enquiries:
Investors Katharine Rentokil Initial
/ Analysts: Rycroft plc 07811 270734
Rentokil Initial
Media: Malcolm Padley plc 07788 978 199
John Sunnucks Bell Pottinger 0203 772 2549
Pest Control Investor Seminar:
Rentokil Initial plc is today hosting an Investor Seminar on its
pest control business in the Sidney Suite Conference Room, 1st
Floor, The Grange Tower Bridge Hotel, 45 Prescot Street, London E1
8GP. The event will include presentations on the Company's
international businesses (including North America, the UK, Latin
America and Asia), its operating model for pest control, brand
leadership, innovation and M&A, and a 27-page report on the
Global Pest Control Industry will be distributed to delegates and
available for download on the Company's website. The majority of
the presentations will be web cast live and will be available on
the Rentokil Initial website. The event will start at 8.45am. The
full web cast will be available for 12 months after the event.
This will be available via a live audio web cast at
www.rentokil-initial.com.
AER - actual exchange rates; CER - constant 2014 exchange
rates
(1) ongoing revenue excludes the financial performance of
disposed and closed businesses but includes results from
acquisitions
This announcement contains statements that are, or may be,
forward-looking regarding the group's financial position and
results, business strategy, plans and objectives. Such statements
involve risk and uncertainty because they relate to future events
and circumstances and there are accordingly a number of factors
which might cause actual results and performance to differ
materially from those expressed or implied by such statements.
Forward-looking statements speak only as of the date they are made
and no representation or warranty, whether expressed or implied, is
given in relation to them, including as to their completeness or
accuracy or the basis on which they were prepared. Other than in
accordance with the Company's legal or regulatory obligations
(including under the Listing Rules and the Disclosure and
Transparency Rules), the Company does not undertake any obligation
to update or revise publicly any forward-looking statement, whether
as a result of new information, future events or otherwise.
Information contained in this announcement relating to the Company
or its share price, or the yield on its shares, should not be
relied upon as an indicator of future performance. Nothing in this
announcement should be construed as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEAXLEDAESEFF
Rentokil Initial (LSE:RTO)
Historical Stock Chart
From Apr 2024 to May 2024
Rentokil Initial (LSE:RTO)
Historical Stock Chart
From May 2023 to May 2024