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Rentokil returns to M&A as Q3 trading improves
StockMarketWire.com
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Rentokil Initial reported ongoing revenue growth of 9.8% in the third quarter of 2020 as it returned to a programme of acquisitions.
Its hygiene business reported third-quarter ongoing revenue growth of 53.3% compared to the same period last year.
The company was also boosted by its pest control business being deemed an essential service in many markets, allowing it to keep operating through national lockdowns. Pest control recorded ongoing revenue growth of 1.3% compared to Q3 2019.
During the quarter, Rentokil Initial completed six acquisitions in North America, Latin America, the Pacific region and the rest of the world. It said it remained on track to meet its spending target of £100 million in the second half of 2020.
Story provided by StockMarketWire.com
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