Edition:
India

Rentokil Initial PLC (RTO.L)

RTO.L on London Stock Exchange

351.10GBp
19 Mar 2019
Change (% chg)

0.80 (+0.23%)
Prev Close
350.30
Open
348.90
Day's High
352.50
Day's Low
348.60
Volume
219,008
Avg. Vol
4,338,813
52-wk High
361.20
52-wk Low
261.90

Latest Key Developments (Source: Significant Developments)

Rentokil Initial Names Richard Solomons As Chairman
Thursday, 28 Feb 2019 

Feb 28 (Reuters) - Rentokil Initial PLC ::DIRECTORATE CHANGES AND APPOINTMENT OF CHAIRMAN.RICHARD SOLOMONS WILL SUCCEED JOHN MCADAM AS CHAIRMAN OF COMPANY.RICHARD IS SENIOR INDEPENDENT DIRECTOR AND CHAIR OF AUDIT COMMITTEE OF ASTON MARTIN.JOHN PETTIGREW, A NON-EXECUTIVE DIRECTOR SINCE JANUARY 2018, WILL SUCCEED RICHARD AS SENIOR INDEPENDENT DIRECTOR.  Full Article

Rentokil Posts FY Pretax Loss Vs Year-Ago Profit
Thursday, 28 Feb 2019 

Feb 28 (Reuters) - Rentokil Initial PLC ::FINAL RESULTS.RECOMMENDED FINAL DIVIDEND OF 3.16P TO BRING TOTAL DIVIDEND FOR 2018 TO 4.471P, AN INCREASE OF 15.2%.FY LOSS BEFORE INTEREST AND INCOME TAX 96.1 MILLION STG VERSUS PROFIT OF 741.4 MILLION STG.FY ONGOING REVENUE 2,455.0 MILLION STG VERSUS 2,203.8 MILLION STG AS REPORTED LAST YEAR.FY REVENUE 2,472.3 MILLION STG VERSUS 2,412.3 MILLION STG AS REPORTED LAST YEAR.FY LOSS BEFORE INCOME TAX 114.1 MILLION STG VERSUS PROFIT OF 713.6 MILLION STG.CONFIDENT OF DELIVERING FURTHER PROGRESS IN 2019 AND ANTICIPATE A SLIGHT INCREASE IN MARKET EXPECTATIONS FOR 2019.FY ADJUSTED PROFIT BEFORE INCOME TAX 308.0 MILLION STG VERSUS 286.9 MILLION STG.ANTICIPATED SPEND ON M&A IN 2019 IS EXPECTED TO BE IN REGION OF £200M TO £250M.IN 2019 TO DATE WE HAVE ACQUIRED SIX BUSINESSES WITH ANNUALISED REVENUES OF C. £25M.WOULD EXPECT UNDERLYING OUTPERFORMANCE IN 2018 TO FLOW INTO 2019..WILL DELIVER C.10% COMPOUND ANNUAL GROWTH RATE (CAGR) REQUIRED IN REVENUE GROWTH IN 2019/20 TO ACHIEVE OUR $1.5BN REVENUE TARGET.CURRENT ESTIMATE FOR ADJUSTED EFFECTIVE TAX RATE IN 2019 IS EXPECTED TO BE IN LINE WITH 2018 AT ABOUT 22%..2019 P&L, CASH INTEREST COSTS EXPECTED IN LINE WITH 2018 BEFORE ADJUSTMENT, EXPECTED BENEFIT OF REFINANCING OF EUR 500M BOND IN SEPT 2019."WE WOULD ANTICIPATE A SLIGHT INCREASE IN MARKET EXPECTATIONS FOR 2019".FOREX REMAINS VOLATILE AND IF RECENT STRENGTH OF STERLING WERE TO BE MAINTAINED, IT WOULD ADVERSELY IMPACT 2019 PROFITS BY ABOUT £5M.  Full Article

UK's CMA Considering If Rentokil-Mitie Pest Control Deal Resulted In Lessening Of Competition In Market
Monday, 18 Feb 2019 

Feb 18 (Reuters) - UK's CMA::CONSIDERING IF IT IS OR MAY BE CASE THAT RENTOKIL-MITIE PEST CONTROL TRANSACTION HAS RESULTED IN CREATION OF A RELEVANT MERGER SITUATION.CONSIDERING IF RENTOKIL-MITIE PEST CONTROL DEAL RESULTED IN A SUBSTANTIAL LESSENING OF COMPETITION WITHIN ANY MARKET OR MARKETS IN UK.  Full Article

UK CMA Says Rentokil Must Sell Contracts To Satisfy Concerns Over Cannon Hygiene Deal
Friday, 25 Jan 2019 

Jan 25 (Reuters) - UK CMA::RENTOKIL INITIAL MUST SELL SEVERAL LARGE SUPPLY CONTRACTS TO SATISFY CMA CONCERNS OVER ITS MERGER WITH CANNON HYGIENE.FOUND THAT RENTOKIL-CANNON HYGIENE DEAL LIKELY TO RESULT IN HIGHER PRICES, WORSE SERVICE FOR CUSTOMERS ACROSS WHOLE OR LARGE PART OF UK.FINDINGS SHOW THAT MERGER OF RENTOKIL - CANNON WOULD REDUCE CHOICE OF SUPPLIERS AVAILABLE TO CUSTOMERS.  Full Article

John McAdam To Retire As Rentokil And United Utilities Chair - Sky News
Tuesday, 11 Dec 2018 

Dec 11 (Reuters) - :JOHN MCADAM TO RETIRE AS RENTOKIL AND UNITED UTILITIES CHAIR - SKY NEWS.  Full Article

Rentokil Sings Bulk Annuity Insurance Deal With Pension Insurance Corporation
Tuesday, 4 Dec 2018 

Dec 4 (Reuters) - Rentokil Initial PLC ::RENTOKIL INITIAL PLC - AGREEMENT FOR A BULK ANNUITY INSURANCE 'BUY-IN' FOR SCHEME WITH PENSION INSURANCE CORPORATION.RENTOKIL INITIAL PLC - SCHEME HAS LIABILITIES OF £1.5 BILLION.RENTOKIL - AGREEMENT SECURES BENEFITS FOR SCHEME'S 14,200 MEMBERS (7,500 PENSIONERS AND 6,700 DEFERRED PENSIONERS).RENTOKIL - BUY-OUT WILL COMPLETELY EXTINGUISH ALL FUTURE PENSION LIABILITIES FROM COMPANY'S BALANCE SHEET AND ASSOCIATED ACCOUNTING SURPLUS.RENTOKIL - ON COMPLETION OF BUY-OUT IT IS ANTICIPATED THAT THERE WILL BE A SMALL CASH SURPLUS WHICH WILL BE RETURNED TO CO.RENTOKIL - AS AT 31 DECEMBER, ACCOUNTING SURPLUS (WHICH WAS £373.2M AT 30 JUNE 2018) WILL BE WRITTEN DOWN TO ESTIMATED CASH SURPLUS.RENTOKIL - CO'S DEFINED CONTRIBUTION SCHEME, MANAGED BY FIDELITY, IS UNAFFECTED.  Full Article

T. Rowe Price Associates Discloses 5.16 Pct Stake In Rentokil
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - Rentokil Initial PLC ::T. ROWE PRICE ASSOCIATES DISCLOSES 5.16 PERCENT STAKE IN RENTOKIL INITIAL- FILING.  Full Article

Rentokil HY Rev Falls 4.7 Pct, FY Forecast Unchanged
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Rentokil Initial PLC ::INTERIM DIVIDEND 1.311 PENCEPER SHARE.HY REVENUE OF 1,176.1 MILLION POUNDS, DOWN 4.7 PERCENT.CONTINUED POSITIVE MOMENTUM ACROSS OUR BUSINESSES WITH FULL YEAR GUIDANCE UNCHANGED..HY PRETAX PROFIT OF 109.5 MILLION POUNDS, DOWN 81.5 PERCENT.HY ADJUSTED. PRETAX PROFIT OF 124.5 MILLION POUNDS, DOWN 1.5 PERCENT.15.0% INCREASE IN INTERIM DIVIDEND OF 1.311P PER SHARE.OUR GUIDANCE FOR FULL YEAR IS UNCHANGED.CANNON UK BUSINESS CONTINUES TO BE RUN SEPARATELY FROM OUR UK INITIAL BUSINESS PENDING ONGOING REVIEW BY CMA.  Full Article

UK's CMA Says Referred Rentokil Initial's Purchase Of Cannon Hygiene For In-Depth Investigation
Thursday, 28 Jun 2018 

June 28 (Reuters) - UK's CMA: :UK'S CMA SAYS HAS REFERRED RENTOKIL INITIAL'S PURCHASE OF CANNON HYGIENE FOR AN IN-DEPTH INVESTIGATION AFTER FINDING COMPETITION CONCERNS.  Full Article

Rentokil Initial Says Q1 Ongoing Revenue Of 545.9 Mln Pounds
Thursday, 19 Apr 2018 

April 19 (Reuters) - Rentokil Initial PLC ::Q1 ONGOING REVENUE OF 545.9 MILLION STG.Q1 REVENUE OF 550.7 MILLION STG VERSUS 580 MILLION STG A YEAR AGO.TRADING HAS STARTED WELL ACROSS BUSINESSES IN Q1 WITH ONGOING REVENUE INCREASING BY 15.7%.Q1 2018 HYGIENE ONGOING REVENUE ROSE BY 29.3% (1.8% ORGANIC, Q1 2017: 3.4%, Q4 2017: -0.2%).GUIDANCE FOR ADVERSE IMPACT OF FOREIGN EXCHANGE ON PROFIT IS IN RANGE OF £10M TO £15M FOR YEAR.IN THREE MONTHS TO 31 MARCH 2018, MADE 11 PEST CONTROL ACQUISITION.SAYS FOR Q1, ONGOING REVENUE IN PROTECT & ENHANCE MARKETS DECLINED BY -0.1% (-0.3 ORGANIC, Q1 2017: -0.9%, Q4 2017: 1.0%).  Full Article

REFILE-UPDATE 1-Rentokil adjusted pretax profit rises on acquisitions, demand for services

Feb 28 Pest control company Rentokil Initial Plc on Thursday reported a 7.4 percent rise in 2018 adjusted pretax profit, boosted by acquisitions and higher demand for its services, making it shares the biggest gainer on the UK's bluechip index.