And at a 1.40 buy,my have a chance short term,only small money..

Never traded this one, had a fair bit of bad news of late and might bounce a bit.

I thought about these myself but just did not feel right.

As you say Dave only worth a small one.

Good luck with It anyway.

Cheers stan.

Dave the best chance for this is a compnay sell off of the elements or a takeover.

These are always possible, but if they are not forthcoming, then not much is going to happen for quite a while imo.

I did hold but bailed after my fingers were burnt.

PRESS COMMENT
FT
THE LEX COLUMN comments on RENTOKIL INITIAL (quite possible that Rentokil's revenues splutter back to life but its profits keep shrinking; if that turns out to be the case a year from now, McGowan will have to revisit the idea of a break-up)

A fair old volume today!

Usually is.

Trading range is 22p.

That's over months though.

Showing early promise this 12/20% and i will be happy.

Nice rise in the last few days.
I bought a few at 1.40 as it looked due a bounce off the 1.40 line.
Looks to be a support at 1.40

8 ball
how goes it

8ball,welcome to the 1.40 club.

Still along way to go before i catch that rat!!

Looks like the baits down.

Bringing a few out the woodwork today !

1.40 still looks a good price..

8 Ball I agree.

Price 10% above makes me suspicous that something is in the wind..........

Ummmm ,now what would that be i wonder !!

Civern are active again in respect of wlw, albeit their name has been mentioned.

I had heard from an informed person that they were preparing something after the last year reports but nothing hap[pened so I had forgotten it.

With all this bid activity it makes me wonder if the trap is about to be sprung.

I do not hold.

Yes,owes me nothing.

Times ays RTO being stalked by a buyer.

Also about to name a new CEO.

Price currently quoted at 157p.

Just read Traders BB, papers appear full of it.

Did here similar things last september sw.

nothing deffo yet.

Sitting in a pretty good position now,from the 1.40 buy.

More bait being taken ,bound to find that rat soon!

looks like it..........

Well something seems to be getting the City excited.

Well, fwiw, the ask and bid opened out to 1p late on which to me is a sign that the mm dont know whats going on or which way it will go.

Could be more rumour, could be something in it.

We shall see!

SW,email on the way.

dd Times says +8 due to positive response to post results Investor Meeting Presentation.

No sign of a takeover then..............

Any sign of good news will do me pat,all helps.

Financial Times

RENTOKIL INITIAL (a nameless US private equity group fingered as building a stake)

Go on my son.

Go on gerry,make your pitch.

WHAT PRICE ARE WE LOOKING AT IF THIS IS TAKEN OVER?SOME HUGE TRANSACTIONS AFTER THE CLOSE.

250 sounds about even money to me,considering RTO position of late.

Dave it's reported this may be a reverse takeover and some are muting 17p on the price.......... over on ADVFN.

Can't see that, but you never know.

Thereal issue is that the results are out very soon and expected to be abysmal, don't think that will be too helpful.

Wait and see I suppose.

SW,look where its been price wise if it goes & who knows,225/250. Or they mite just give these people time to find a solution at the helm..

I bet they wish mr 20% was at the wheel.

Indeed.

More smoke this morning.

Price still at reasonable levels.

Won't last.

Robinson brings in Europa for Rentokil bid - report
AFX


LONDON (AFX) - Sir Gerry Robinson has brought in boutique investment bank Europa to invest alongside his own company Raphoe Management on any bid for Rentokil Initial PLC, the Financial Times reported, without citing sources.

Europa, founded by former Warburg bankers including David von Simson, controls the 28.5 pct of Raphoe not owned by Robinson. That means if the former Granada chairman gains 10 pct of Rentokil, Europa will own 2.8 pct of that, the paper said.

Raphoe said Monday it will approach Rentokil with a view to bidding for the troubled UK hygiene-to-pest-control group.

They have already appointed pension consultants to asses the company's liabilities, the FT added.

Still very slack in the price,SW.

Yes and nit much activity.

Very starnge.

Mind you, this rumour keeps emerging so maybe the Market think it is crying wolf.

Still in and holding from a while back.

I've put them back under the bed.

Rentokil profits slump 20%
MoneyAM
Rentokil Initial delivered a 20% drop in first-half profit as the world's biggest pest control company, fighting to stave off a possible bid, beefed up investment in an attempt to re-ignite sales growth.

The ailing company, which has seen earnings decline for the past four years, warned it saw little prospect of an improvement in the markets in which it operates in the 'near future'.

Profit before tax, exceptional items, goodwill amortisation and various other one-off costs fell to 135.4m in the six months to June 30 on sales up 3.2% to 1.17bn.

On that basis financial analysts had expected profit of around 135m.

'The programmes we are implementing will provide real and lasting improvements in operational and financial performance and thereby generate the value inherent in the company which rightly and fully belongs to its current shareholders,' under fire chairman Brian McGowan said in a statement.

Rentokil has been struggling to maintain margins after its diverse operations, which include parcel delivery and washroom and security services, lost share to more focused rivals.

Its management's problems intensified on Monday when former Granada CEO Sir Gerry Robinson, one of Britain's best-known businessmen, said he was interested in bidding for the company.

Shares in Rentokil, closed Wednesday at 162.25p, valuing the business at around 2.9bn.

The stock has gained 6% in the past year, underperforming support service sector peers by 9% in that time.

Despite rallying by 7% since Monday, when news of the possible approach by Robinson's takeover vehicle, Raphoe Management, first emerged, Rentokil's stock remains around 43% below its March 2002 peak.

'We suspect the Raphoe deal might not succeed but it will be a catalyst to force a more rapid and fundamental review of the business to create more shareholder value,' Oriel Securities analyst Emma Ormond said ahead of the results.

McGowan led a boardroom coup in 2004, ousting founding chairman Sir Clive Thompson.

His strategy is to focus on investing more in research and development, upgrading computer systems and hiring more staff, in an effort to improve service levels.

But with little sign the strategy has arrested the profits decline, McGowan and CEO, Doug Flynn, hired in April, are under mounting pressure to hive off underperforming business units.

In a separate statement the company announced a decision to sell its business conferencing unit 'subject to achieving satisfactory value through a sale process'.

Tuck them up for the winter month SW,i can hear them shareholders singing,,who do we want,,sir clive,,when do we want him now now..

lol

btw I dumped an email address, not sure if it's the one you have.

Try through Money and I will send you my new one.

I I.

He will not get control with 10%. City will not support it or him imho. Thats what he is oifferring. He dosen't want debt, only want to buy ten per cent and manage the company. xxxxing Irish BIGHEAD

Rapahoe proposals

Now I can smell a rat too................................................

Best call out someone to bump it off.

And there`s more here`s 2 words **** ***.

The rat is now dead. (I think?)

Rentokil, City pour scorn on Robinson bid

However, I have seen a brief note on Bloomberg that the major shareholder is backing Robinson, that was seen after this note above.

Ah......... RATS!!!

needs more tha 14% . Anyway xxxx Franklin Resources

One of RENTOKIL INITIAL's biggest shareholders yesterday came out against Sir Gerry Robinson's attempt to insert himself as the company's chairman - a move which could net him a 58 mln stg shares bonanza - The Independent

Sorry the last looked like a ramp.

Moving up suddenly now.

Wonder why?

Never a ramp sw,just a small platform.I see GR is having his chat today !

The interest today explained.

I am completely feds up with these.

Might hang them in the toilet.

Make of that what you will & when you find out let me know,,come on you big shareholders but a bit of pressure on and make a decision please ,,wanting abit more from wales..

Robinson told to put up or shut up in battle for Rentokil.

Robinson told to 'put up or shut up' in battle for Rentokil UPDATE
AFX


(Re-casts, adds detail, background)

LONDON (AFX) - Rentokil Initial PLC, the beleaguered British support services group, today won a victory in its phoney war with Gerry Robinson when the Irish businessman's Raphoe Management Ltd company was issued with a 'put up or shut up' ultimatum.

The Takeover Panel, a body which scrutinises the conduct of UK mergers and acquisitions, said in a statement that following representations from Rentokil, Raphoe must either announce a firm intention to make an offer by Oct 17 or walk away.

Robinson last week outlined a plan to install himself as executive chairman of the rat-catching to tropical plants group, increase debt and return 35 pence a share to investors, worth 634 mln stg.

His management company would receive shares currently worth more than 75 mln stg.

Robinson has secured the backing of Rentokil's biggest investor, US group Franklin Resources Inc, which owns 14.7 pct of the shares, though other investors, including UK fund manager Legal & General, have been less than impressed.

The panel's statement came as Robinson remained locked in talks designed to woo a largely sceptical group of financial analysts, one of whom recently described his proposals as 'very opportunistic'.

I'm all for shut up, bloody sponger.

This is going to have the spanish fiddle on monday.

whats that

The elbow,

Time to move on i think..

Is this 1.70 i see coming over the hill,,oh no,,,its a mouse..

Thats it the last rat has died,so thats it from me am out of here.

Bye bye dave.............

I'll wait till the end of this week before deciding.but I have felt the same for ages.

This stock looks a lame duck to me.

Someone shoot it!

Exit Execs ...and sp goes up 20% - this shows 'em, just how angry the Market has become with feeble management. Oh yes it was City Express (or ?)the van-delivery franchise that done them in.
(I used to holdbut sold-out long ago for different reasons, not connected.)
Well, it won't repair itself quickly - maybe wait a little - 86p today

Goes ex-divi on the 16th April @ 5.25p per share. Worth having at a sp of 92p perhaps? Trouble is, what then? Recovery or ........?

I have some faith in the top notch new management formerly with ICI---this will no doubt fall back as people are buying in towards the divi date but I'm looking for some action soon to get this co. turned around---like british energy and cookson neither of which I held onto I'm sad to say!!

Beware market woes!

Just as this sp has been knocked by mis-management - don't think their replacements will be able to perform a turn-around. . . .
With markets down, trade is down and I suspect we could see a deterioration in the Delivery-business as other ( private/more-nimble) operatives scoop-up their deliveries. This is a sentiment-driven business ( along with "price"), so your standing in the Market is key.
Rentokil has demonstrated it isn't up to the job - and only time will tell.

Anyone buying a few weeks ago will have done OK (=bounce)....but Markets can force a sp to retract at least until solid Good News counters current-perception.

By comparison, UK-Banks are better investments IMHO - you have to use 'em and if they really have cleared their rubbish(!) . . . . good times ahead, - or, maybe in a couple of months, to be sure.

Does anyone know why the [RTO] "fundamental data" is blank ( on this website)...?
This is a full-list company, with almost 2bn Mkt Cap - so where's the Data?

Results and a huge sp fall.
Seems some improvements about, but this is conveniently compared with Dire! In April08 a decent recovery from 72p = 90p - yet now has dived to 65p so no winners, unless you got out.

Trouble is...will this fall continue at least until folk see a sea-change ( maybe Exec removals-Arrgh) - for somethin is needed to restore this simple business. -OR- was is too simple and others do it better?

City Link is an example where the control of vehicles and goods is critical - if you foul-up folks remember for a long time. I wonder if most deliveries aren't better served by smaller co's linked together by the internet when moving greater distances, etc. Yet here, I think there was some change to the structure which had worked. Anyone give a History?

51m shares traded today already, with stop losses kicking in I presume.
This company is going to take a while to turn around, imo. No quick fix on the cards. Question is, how long will they give the new guys to produce results? CEO Alan Brown reckons up to 3 years.

The new directors did the trick with ICI, and I'm sure given time they will turn these around as well. But what a time to takeover. Have this one on my watchlist, but I certainely won't be rushing in for some time yet.

Hi all.................. a solid close today.

Seems like plenty of upside . ie ...... Gap Up! (from time of results)

More views welcome.

Cheers
Amar

This keeps on getting knocked back, but a slow climb back up to the 50 DMA looks probable, so around the 90p level at present. Current broker target is 102p, but take that with a large pinch of salt. Div date is early sept, so be interesting to see if that is maintained.

Good morning all ........

I don't really have a problem with broker targets Harry ........

But they're usually vague / reluctant with their time frame.

Cheers
Amar

There rarely is a time frame, Amar, that's what worries me.
As far as RTO goes, it looks like a scenario where most news is going to be below expectations, interims & finals, so expect the sp to get knocked back each time & then slowly rise on momentum.
I wish you luck. Keep locking in profit though as this is going to be a bit of an unpredictable ride, imo.

Harrycat, I'm sure yr right, RTO is sufferiing from worsening Retail/consumer - the Press telling us a Recession is here and the Olympic "hit" is subsiding with the military woes in Georgia occupying TV News.
When a Co has got something very wrong it will take time to rectify - and even longer to produce a recurring profit...let alone higher dividends...if it is maintained I'll be surprised - but then? This is "probably" the reason fro the fall-back along with bottom-fishers taking a modest profit in a short-time...and being grateful they've got out smiling.
This is not one of mine, but it might be, when all the Bad is wrung-out, probably Spring 2009. Are you nursing (higher) invesstments perhaps?
sp Down a bit today.

No, Not holding. Bought ages ago for the divi & then bailed out, so there by luck or judgement I have timed this one corrrectly. But worth watching, imo, to see if they can get themselves back on track. Will be interesting to see if they pay a divi next time round.

Heavily tipped in Shares Mag by chartist Simon Griffin to now reach 71p after it's recent rally. That was based on the declining 200 DMA on the 10th Feb & 61p as the target. Breakthrough is anticipated to 'obvious congestion at 71p'. Possibly worth a punt but assuming those people who trade from the chart will exit at 71p, best to get out just before.

Rentokil Initial Final Results





TIDMRTO

RNS Number : 6254N
Rentokil Initial PLC
20 February 2009

?
RENTOKIL INITIAL PLC (RTO)
PRELIMINARY UNAUDITED RESULTS FOR YEAR ENDED 31 DECEMBER 2008


+----------------------+----------------+---------+---------+-------------+---------+---------+
| Results | 2008 AER | Growth |Q4 2008 AER | Growth |
| | | | | |
+----------------------+----------------+-------------------+-------------+-------------------+
| | | AER | CER | | AER | CER |
+----------------------+----------------+---------+---------+-------------+---------+---------+
| Revenue | | 9.4% | 2.2% | GBP631.0m | 8.8% | (0.4%) |
| | GBP2,409.9m | | | | | |
+----------------------+----------------+---------+---------+-------------+---------+---------+
| Operating profit* | GBP147.6m | (41.2%) | (50.8%) | GBP40.5m | (36.7%) | (49.0%) |
+----------------------+----------------+---------+---------+-------------+---------+---------+
| Adjusted profit | GBP107.9m | (48.5%) | (60.1%) | GBP36.7m | (43.2%) | (56.0%) |
| before tax* * | | | | | | |
+----------------------+----------------+---------+---------+-------------+---------+---------+
| |
+----------------------+----------------+---------+---------+-------------+---------+---------+

Looks a sell to me.

now 79p and maintaining

From FT blog today:
"RTO LN( Rentokil ) Results 19Feb .. They last reported in Nov ... they were good results then.. and UPGRADED .. Citylink I suspect will show a big improvement ..Amazon is a very big customer !! .. Swine Flu also would have helped .. Hygiene !!! .. LTIPS cut in at 120p .. below that ..management get Zero ..
TRADING BUY HERE ... 116p .... target 130p"

Business Financial Newswire
Rentokil Initial today reported a 54% increase in adjusted profit before tax at actual exchange rates (AER) of 166.5m for the year to end-December 2009.

Operating cash flow was 317m (2008: 130m), giving a 143% cash conversion rate.

The group reported a year-on-year reduction in net debt from 1.36bn to 1.11bn.

Rentokil said there was a 5% revenue increase at AER, 2.2% decline in constant currency terms.

There were cost savings of 82m in the year, of which 54m related to the City Link busines. A further 75m cost savings are targeted for 2010.

Cleaning and pest control group Rentokil Initial passed its final dividend despite posting a strong increase in adjusted pre-tax profit and 5% revenue increase for the year to December 31.

Analyst Kevin Lapwood at Seymour Pierce said the results beat the broker's expectations but there was a longer-term question mark over revenue growth. He kept a sell stance on the stock with a 100p target price.

Rentokil, which also failed to pay an interim dividend in 2009 after a 5.9p per share full-year payout in 2008, said its decision not to pay a final dividend was taken in view of continuing economic uncertainty in its markets and its wish to strengthen the balance sheet.

Ex-divi 4th April 2012, 1.33p.

First half results:
http://www.moneyam.com/action/news/showArticle?id=4421222

First Half Highlights (at CER)

§ Group revenue +2.9% (+1.3%* organic) in challenging markets:

Ø Asia +7.5%, Initial Facilities +3.7%*, City Link +3.5%, Textiles & Hygiene +3.3%, Pest Control +3.0%**

Ø Acquisitions continue to perform well, contributing 2.1% (£27.1m) of revenue growth

§ City Link Q2 revenue up 5.3% on prior year, 18.3% reduction in Q2 operating loss. Recovery plan on track

§ Adjusted operating profit of £87.3m at AER with increased profits in Textiles & Hygiene £0.7m offset by increased central costs of £4.4m. Adjusted operating profit adversely impacted by £4.6m of foreign exchange

§ Profit before tax up 75.2% primarily due to a reduction in one-off and reorganisation costs of £5.4m and a reduction in amortisation of £11.1m

§ Cost savings of £22.1m; on track to exceed year end guidance of £50m for 2012

§ Further expansion of pest control footprint: entry into South America and the Middle East, additional bolt-ons in Canada and the US

* excluding Initial Facilities Spain, where the business is being scaled down to reduce financial exposure and has impacted group performance by 0.5%

**includes Ambius operations, post its integration into the Pest Control Division

Alan Brown, Chief Executive Officer of Rentokil Initial plc, said:

"Organic growth has continued to progress year on year, despite challenging markets in Southern Europe and softening conditions in Northern Europe, including the UK.
City Link's recovery plan is progressing in line with expectations, both in terms of financial performance and underlying action plan. We expect losses to reduce further in Q3 and for the business to be profitable in Q4.
We are pleased to announce bolt-on acquisitions in Canada, the US, Brazil, Abu Dhabi and Dubai. Our pipeline of pest control acquisitions is improving in both quality and quantity.
Our Programme Olympic capability agenda is in full swing and is being supported by the establishment of a group Marketing & Innovation function. Though central costs will increase in the short term, this investment should accelerate growth in 2013 and beyond. We anticipate that continued growth, coupled with further productivity improvement at City Link, will deliver year-on-year improvement in financial performance at constant exchange rates in Q3, and most notably in Q4 this year."

Ex-divi 12th Sept '12 (0.67p)

HSBC note today:
"Rentokil has had a solid share price performance (outperforming FTSE by 36% over the last 12 months). This is largely because of the perception that Rentokil, ex City Link losses, is worth a lot more. The market seems to take the view that if City Link, its parcel delivery service, can be sold, closed or fixed, Rentokil’s share price can only rise. A bigger, less risk-laden, multiple could be applied to earnings not dragged down by the losses of City Link. However, very few of the consensus earnings forecasts appear to assume anything less than a return to breakeven for City Link within one to two years. Indeed, they additionally assume that 32 consecutive quarters of group-wide exceptionals come to an abrupt and immediate end. In short, they assume the long-awaited turnaround is imminent.
City Link: Building a spreadsheet that shows City Link returning to profit by removing costs is easy but doing so in the real world has proven a far harder task. Our analysis suggests that even if City Link can achieve good (10%) volume growth in 2013 with inflationary pricing and sustained real falls in cost per consignment in coming years, the business may still fail to break even before 2016.
Beyond City Link, Rentokil has persistent problems elsewhere in the business, which consensus implicitly glosses over through generous SoTP multiples. It still loses too many textile and washroom contracts and suffers bouts of pricing pressure in contrast to more stable peers. We expect this could be a product of bid team structures and remuneration.
Valuation: How does one accurately use a SoTP valuation on segments so frequently containing different businesses each year, or quarter? Over the last five years the removal of ‘exceptionals’ has lifted adjusted earnings by 20%, on average. Should one really value the business excluding exceptionals? We have arrived at our target price of 77p by applying a PE multiple of 9.1x to 2014e EPS, a number which excludes exceptionals and includes City Link losses. Since our target price implies a potential return of -18.3% (including potential dividend yield) we downgrade the stock to Underweight (V) from Neutral (V).

StockMarketWire.com

Rentokil Initial booked a first-quarter pretax profit of £9.8 million, down 11.7% on the prior same period, as its revenue rose 2.7% to £644.8 million.

"We have experienced mixed trading conditions during Q1," said CEO Alan Brown in a statement.

"The early adopters of the integrated country operating model - Asia, the UK, the US & the Nordics - have all performed well, supported in North America by an encouraging start from our 2012 acquisitions," he said.

Rentokil said City Link has also improved in line with Q4 2012 performance. It separately said that City Link had been sold to BECAP12 Fund LP for £1.

Brown said the disposal of City Link enabled Rentokil to concentrate on its core international businesses in pest, hygiene and workwear.

Meantime, Rentokil said business in continental Europe had become more challenging, with strong pricing pressure particularly in flat linen.

"Restructuring is progressing in Rentokil Initial's three major workwear markets of France, Benelux and Germany. This, coupled with a strong innovation programme in H2 2013, will deliver material benefits progressively through 2013 and into 2014, which should more than offset current market pressures," Brown said.

"The combination of these initiatives, coupled with substantial acquisition benefit in Q2 and Q3, enables us to retain our previous guidance for the year, despite tough trading conditions in Continental Europe."

StockMarketWire.com
Rentokil Initial said today it has today agreed to acquire the pest control division of Green Compliance for a total consideration of £4m in cash.

There will be a £3.25m in initial consideration, with a further £0.75m payable over 12 months in line with normal contractual protections and the achievement of certain operational targets.

The Business had audited revenues of £5.0m for the year ended 31st March 2013.

The transaction is anticipated to complete on 31st December 2013.

Green Compliance said revenue from continuing business was £6.6m in the half-year to end-September (2012: £9.8m).

Operating loss (before exceptional items, share based payments and amortisation of intangibles) was £0.8m (2012: profit of £0.1m).

Net cash at bank was £0.2m versus net bank debt of £8.2m at 31 March 2013 following successful refinancing of the Group

The company had net assets of £6.6m up from £1.4m in at year end March 31st 2013.

Fire extinguisher maintenance and pest control businesses have been sold for combined gross cash consideration of £6m on £7m of combined annualised revenue.

StockMarketWire.com
Rentokil Initial confirms the acquisition of Peter Cox Property Care, a specialist in remedial property care services (wood-boring insects and damp proofing) to the domestic and commercial sectors.

It joins the Company's existing Rentokil Property Care business in the UK securing nationwide coverage and adding regional density in this growth market.

Rentokil has also acquired two pest control businesses: EcoTime Pest Control in Italy and Tropical Pest Control in the Bahamas.

EcoTime, based in Milan, represents an important density building opportunity in Northern Italy, whilst the acquisition of Tropical, a leading player in the Bahamas, sees the Company enter the Bahamian pest control market and will complement the Company's existing hygiene operations in the country.

Combined annualised revenues for the last audited period of Peter Cox, EcoTime and Tropical were approximately £24m. The deals are in line with Rentokil Initial's strategy of accelerating its M&A programme to pursue targets in higher growth markets and in areas which add local density to existing operations.

Today's announcement brings the total number of acquisitions made during 2014 to 30 (23 in pest control) with combined annualised revenues in the 12 months prior to acquisition of £66m and a total combined consideration, including deferred consideration in line with normal contractual protections and the achievement of certain operational targets, of £76m.

StockMarketWire.com
Rentokil Initial has acquired Eradico Services in Michigan, USA, and Sagrip S.A., which gave it market entry into the main cities of Guatemala and El Salvador.

The acquisitions were in line with Rentokil's strategy of accelerating its M&A programme to pursue targets in higher growth markets and in areas which add local density to existing operations.

Combined annualised revenues for the 12 months prior to acquisition of Eradico and Sagrip were approximately £7.3m.

StockMarketWire.com
Rentokil Initial said its Q1 revenue from ongoing operations rose 2.2% AER to £415.9m, and was up 6.2% in CER terms. "We are on track to achieve our 2015 revenue, profit and cash expectations," said CEO Andy Ransom.

Of the 6.2% CER revenue growth, 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," the company said in a statement.

Operating and free cash flow were ahead of the prior year in Q1.

"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 £15m in the 12 months immediately prior to acquisition," the company said.

StockMarketWire.com
Rentokil Initial posted an H1 pretax profit up 5.1% to £70.2m. Revenue was up 0.1% to £855.3m. Interim dividend rose 13% to 0.87p. Its expectations for the FY are unchanged.

CEO Andy Ransom said:
"In February 2014 we set out our new differentiated strategy and introduced medium-term targets for mid-single digit revenue growth, high-single digit profit growth and a significant improvement in cash generation.

"We have continued to implement our strategy at pace and made further good progress in the first half of 2015, delivering ongoing revenue growth of 5.2%, profit growth of 8.0% and free cash flow of £55m.

"While prospects in the majority of our key markets are good, conditions in certain parts of Europe remain challenging, particularly in France and the Netherlands. We are nonetheless on track to achieve our 2015 revenue, profit and cash expectations.

"Overall I am encouraged by the progress that we have made over the last eighteen months and I am confident of delivering further value for shareholders as we enter the next phase in the execution of our plan."

Highlights:
· Strong growth in revenue and profit in H1

· Positive organic growth trend continues into H1: +1.9% year on year (FY 2014: +1.2%)

· Pest control particularly strong: revenue growth +9.6% (+4.8% organic)

· Free cash flow of £55.4m, on track to meet £100m+ target for the full year

· Continued M&A execution: 14 bolt-ons (12 in pest) with combined annualised revenues of £21m

· Further reduction in net debt to £730m, £129m lower than H1 2014

· Interim dividend increased by 13% to 0.87p

· Expectations for the full year are unchanged

StockMarketWire.com
Rentokil Initial (FTSE: RTO,) has announced the continued expansion of its pest control business with the acquisition of Chicago-based Anderson Pest Solutions.

The annualised revenues for Anderson in the 12 months prior to acquisition were $21m.

The acquisition is in line with the Rentokil's strategy of continued acceleration of its pest control business and pursuing acquisition targets in higher growth markets. It also builds customer density, primarily in the Chicago metropolitan area.

Andy Ransom, chief executive of Rentokil Initial, said: "We are delighted to join forces with Anderson Pest Solutions in the Chicago area. It is a well-established and highly respected business, and with long-term customer relationships.

"With an 80% commercial portfolio, areas of potential growth include introducing additional services such as Rentokil's bird control and bioremediation expertise to Anderson's customer base, but also the benefits that Anderson's particular expertise in eco-effective pest control will bring to us.

"North America is an important growth market for the company and our pipeline of acquisitions in pest control remains strong as we expect to continue the acceleration in pest control and deliver the next phase in our plan for profitable growth."

Barclays Capital today reaffirms its overweight investment rating on Rentokil Initial PLC (LON:RTO) and raised its price target to 170p (from 160p).

StockMarketWire.com
Rentokil Initial has booked a FY pretax profit of GBP159.0m, up 3.8% on the year. Revenue was GBP1.76bn, up 1%. Dividend was 2.93p a share, up 13.1%.

CEO Andy Ransom said 2015 was a year of further improvement at Rentokil Initial.
"We have continued to execute our differentiated strategy to drive profitable growth with both focus and pace. This year we have delivered ongoing revenue growth of 6.5%, profit growth from ongoing operations of 8.5% and free cash flow of £148m," he said.

"We have also achieved a step change in the scale of our presence in Growth markets through the acquisitions of Steritech, Anderson Pest Solutions and Oliver Exterminating, cementing our position as the number three player in North America, the world's largest pest control market.

"We will continue to pursue high-quality pest control businesses to infill locally and build further density and margins, particularly in Emerging and Growth markets.

"Prospects in the majority of our markets are good and, while conditions in France and Benelux remain difficult, we are confident of making further progress in the coming year."

StockMarketWire.com
Rentokil Initial has seen its Q1 revenues surge 13.0% higher in AER terms to GBP472m, with that from ongoing operations ahead 13.9% AER to GBP468.1m.

"The majority of our regions have had a strong start to 2016, in particular North America Pest Control which grew by 54% (6.4% organic), and the UK, Asia, Pacific and Latin America," the company said in a statement.

"While conditions remain tough in parts of Europe, particularly in France, overall the region delivered modest revenue growth in Q1."

The company continued:

"Revenue from ongoing operations increased by 11.8% [CER] in Q1, of which 2.8% was organic and 9.0% was from acquisitions,

"Pest Control performed strongly in the quarter, growing organically by 6.4% while our Hygiene business showed a continuation of last year's positive trend, growing organically by 2.3%.

"Growth in our Emerging (+17.8%) and Growth (+19.6%) markets was particularly strong, with the rate of revenue decline in the Manage for Value and Protect and Enhance markets lower than last year at c.-1%."

Credit Suisse today reaffirms its outperform investment rating on Rentokil Initial PLC (LON:RTO) and raised its price target to 225p (from 190p).

StockMarketWire.com
Rentokil Initial confirms the acquisition of Allgood Services of Georgia Inc, which trades as Allgood Pest Solutions.

Allgood is a premium pest-control company headquartered in Atlanta, and also operated in Tennessee. It generated annualised revenues for the 12 months prior to acquisition of $26m.

Last year, Rentokil Initial acquired 17 businesses in North America, in line with its strategy to accelerate growth in its pest control business and to pursue acquisitions in higher growth markets.

The pest control market in North America is estimated to be worth just over $8bn a year and accounts for about 50% of the market worldwide, and is therefore a key strategic market for the Company.

StockMarketWire.com
Rentokil Initial has improved its FY pretax profit and revenue, stating that whilst conditions remain difficult in France the prospects in most of its markets are good.

The company booked FY pretax profit up 3.10% to £208.5m, with revenue up 24.2% to £2.16bn and total dividend up 15% to 3.37p a share.

"In 2016 we have continued to execute our strategy at pace," said CEO Andy Ransom in a statement.

Rentokil's Organic Revenue growth of 3.0% was at its highest level for 10 years, with accelerated growth in Pest Control and Hygiene showing continued performance momentum.

In addition, the company had exceeded its financial targets, growing Ongoing Revenues by 12.6%, Ongoing Operating Profit by 11.5% and delivering £156m in Free Cash Flow.

He said 2016 had also seen strong execution of M&A.

"We continue to migrate our revenues into Emerging and Growth markets and have acquired 41 companies in the year with combined annualised revenues of some £124m.

"We were delighted to enter into an agreement with Haniel at the end of the year to create a leading provider of Workwear & Hygiene services across Europe.

"The transaction fits well with our capital allocation model. Cash proceeds will be reinvested in Pest Control and Hygiene and we intend to increase our spend on M&A in 2017 to at least £150m as we continue to identify a particularly strong pipeline of value-enhancing opportunities."

Ransom said that, at the same time, Rentokil was creating value in its Protect & Enhance markets through retaining an 18% stake in the combined business.

"Prospects in the majority of our markets are good and, while conditions in France remain difficult, we are confident of making further progress in the coming year," he added.

StockMarketWire.com
Rentokil reported ongoing revenue increased by 10% in its first quarter, of which 3.1% was organic sales growth (Q1 2016: 2.8%, FY 2016: 3%) and 6.9% was from acquisitions.

On 16 December 2016, the company announced the proposed transfer of its workwear and hygiene businesses in Germany and the Benelux to a joint venture (JV) with Haniel.

The transaction remained on track to complete by mid-year, subject to competition clearance.

Excluding those businesses transferring to the JV the organic revenue growth rate was 3.5%.

Pest control grew by 19.1% (5.6% organic revenue growth) while hygiene revenues rose by 3.7% (3.1% organic revenue growth).

Ongoing revenue growth in Rentokil's emerging and growth markets was strong, increasing by 24.5% and 12.6% respectively.

Its businesses in manage for value markets delivered ongoing revenue growth of 2.5% while those in the protect and enhance markets delivered in line with last year.

There was a continuing strong performance in Asia, Pacific, Latin America, the UK and in our largest market, North America.

Europe delivered improved ongoing revenue growth in the first quarter, with revenues in France broadly flat year on year.

M&A

Rentokil acquired 12 businesses this year to date, ten in pest control, one in hygiene and one in property care, principally in emerging and growth markets.

Combined annualised revenues of the businesses acquired totalled £101.7m in the 12 months immediately prior to acquisition.

In February, the firm announced the acquisition of Atlanta-based pest control company Allgood Pest Solutions. The business generated annualised revenues for the 12 months prior to acquisition of $26.6m.

In March, Rentokil completed the transaction to create a joint venture with PCI Pest Control (PCI), India's largest pest control company, which offered a comprehensive range of pest control services and products through its countrywide network.

Rentokil, which had management control of the JV, was integrating its Indian operations into the JV and the combined business has revenues of 4.5bn rupees (£50m).

On 11 April, the firm's JV in the Kingdom of Saudi Arabia (KSA) acquired Sames, the market leader in the commercial pest control sector in KSA. The business generated revenues of £9m in the last 12 months prior to acquisition.

StockMarketWire.com
Rentokil Initial and Franz Haniel & Cie. GmbH have announced the completion of their agreement to form a joint venture that would become a leading provider of Workwear and Hygiene services in Europe.

The JV brought together Rentokil Initial's Workwear and Hygiene businesses in 10 countries principally in the Benelux and Central Europe regions with Haniel's businesses in 16 countries that operated under the CWS-boco brand.

In the 12 months to 30 June 2016, the JV had combined revenues of c. EUR1.1bn and APBITA of over EUR130m.

"We are delighted that the joint venture has completed on schedule," said Rentokil's CEO, Andy Ransom.

"The deal aligns with our value-creating capital allocation model perfectly, as not only does it increase our ability to invest in our core growth categories of Pest Control and Hygiene, but it also protects value through an investment in a leading European Workwear and Hygiene business.

"It represents a step change in the execution of our strategy with 80% of group revenues now coming from Pest Control and Hygiene services."

StockMarketWire.com
Rentokil Initial's ongoing revenue increased by 13.7% in the third quarter, of which 3.7% was organic revenue growth, up from 3.1% a year earlier, while 10% was acquisitions-led.

Organic growth including revenues from product sales by the group to the Haniel joint venture was 4.6% in the quarter.

Pest control grew by 17.8% (5.6% organic revenue growth) with growth markets delivering a 12.3% increase and emerging markets delivering revenue growth of 65.7%, reflecting the impact of the group's joint venture in India.

Hygiene revenues increased by 13.2%, of which 2.6% was organic revenue growth.

Ongoing revenue in the Protect & Enhance markets declined by 0.2%, with an organic revenue decline of 1.7%, primarily due to ongoing market weakness in the UK property care business.

Europe delivered a further improvement in ongoing revenue growth in the quarter, with revenues in France up 2.4% year on year.

A number of operations within the North American, Latin American and Rest of the World businesses were temporarily disrupted by severe weather conditions in September. Trading has now returned to normal in most of these markets, with the exception of Puerto Rico, which is expected to remain severely impacted for some time.

Andy Ransom, chief executive, said: "Notwithstanding the impact of severe weather conditions on some of our businesses in the third quarter, prospects remain good for the remainder of the year across the majority of our markets, and our guidance for the full year is unchanged."

StockMarketWire.com
Rentokil Initial has acquired Vector Disease Acquisition, North America's largest provider of mosquito control services, for an undisclosed sum

The target posted annualised revenues for the 12 months prior to the acquisition of around $47m (£36m).

Rentokil's M&A pipeline remains very strong and the company now expects to spend at least £100m in the second half of 2017, chief executive Andy Ransom said.

"This is another important step towards our ambition to create a business in North America with revenues of around $1.5bn and margins of around 18% by the end of 2020," Ransom said.

Peel Hunt today downgrades its investment rating on Rentokil Initial PLC (LON:RTO) to add (from buy) and cut its price target to 343p (from 348p).

StockMarketWire.com
Rentokil Initial's ongoing revenue (excluding sold businesses) increased by 14.5% to £2,203.8m in 2017, with all regions contributing to growth.

Asia performed particularly well, increasing revenues by 37.3%, driven by the PCI joint venture.

North America revenues grew by 21.1% and revenues in the Pacific and Europe rose by 7.7% and 7.3% respectively.

The UK and rest of world region delivered growth of 6.8%.

Group organic revenue growth was 3.8% and growth from acquired businesses was 10.7%.

Ongoing revenue in pest control grew strongly at 21.4% during the year, of which 5.8% was organic revenue, while hygiene reported increased revenues of 7.6%, up 2.1% on an organic basis.

The protect & enhance businesses reported ongoing revenue growth of 0.9% during the period with improved performance in the French workwear business.

Ongoing operating profit increased by 14.8% to £294.6m in 2017, reflecting growth in all regions but offset by lower profits in France. Restructuring costs amounted to £6.9m at CER (2016: £7.9m) consisting mainly of costs in respect of initiatives focused on driving operational efficiency in North America, France and the UK.

Profit before tax at actual exchange rates grew by 242.3% to £713.6m. It includes a net profit on disposal of businesses of £449.0m, including the profit on disposal of the businesses transferred into the Haniel joint venture of £481.2m and a loss of £32.2m in relation to the divestment of eight, predominantly flat linen laundries in France to RLD.

Adjusted profit before tax at actual exchange rates was £286.9m.

Andy Ransom, CEO of Rentokil Initial plc, said: "Overall, we have had a very good year and I am delighted that we have again exceeded our medium-term financial targets for revenue, profit and cash. We are confident of delivering further progress in 2018."

Jefferies International today upgrades its investment rating on Rentokil Initial PLC (LON:RTO) to buy (from hold) and raised its price target to 340p (from 335p).

StockMarketWire.com
Rentokil Initial's organic revenue growth dropped to 3.2% in the first quarter from 3.7% the year before because of the ongoing impact of last September's hurricane on operations in Puerto Rico and unseasonably cold weather in the US in March, which delayed the onset of the spring pest season.

Excluding the impact of Puerto Rico, organic growth is in line with Q1 2017.

Acquisitions performed well, contributing 12.5% to ongoing revenue in the first quarter.

Ongoing revenue in pest control grew by 15.8% (4.7% organic) with growth markets growing by 12.4% and emerging markets increasing by 38.2%, reflecting the strong performance of the joint venture in India.

Hygiene ongoing revenue rose by 29.3% (1.8% organic), driven by the acquisitions of Cannon Hygiene and CWS Italy.

Ongoing revenue in the Protect & Enhance markets declined by 0.1% due to ongoing market weakness in the UK Property Care business, offset by a stronger performance from the French business.

Deutsche Bank today reaffirms its hold investment rating on Rentokil Initial PLC (LON:RTO) and raised its price target to 320p (from 310p).

StockMarketWire.com
Pest control group Rentokil Initial posted a modest fall in first half profit after a strengthening pound offset rising sales.

Pre-tax profit for the six months through June fell 82% to £109.5m, but included a gain on an asset sale in the previous year.

On an underlying basis, pre-tax profit fell 1.5% to £124.5m, as ongoing revenue grew 14% to £1.17bn.

The company declared an interim dividend of 1.311p per share, up 15% on-year.

'I am pleased with our performance in the first half, with revenue, profit and cash all in excess of our medium-term targets,' chief executive Andy Ransom said.

'Pest Control has performed well, despite a late start to the pest season in North America.'

'Encouragingly, our Europe region has continued to improve, with France returning to profitable growth after three years of decline.'

'As a result of our performance in the first half, our guidance for the full year is unchanged.'

Goldman Sachs today downgrades its investment rating on Rentokil Initial PLC (LON:RTO) to neutral (from buy) and raised its price target to 420p (from 400p).