LONDON (dpa-AFX) - Rentokil Initial (RTO.L, RTOKY.PK), a British commercial pest control services company, on Thursday posted a rise in revenue for the third-quarter of 2023, supported by the benefit of merger and acquisition including Terminix.
On actual exchange rates, the company recorded revenue of 1.382 billion pounds, higher than 901 million pounds, registered for the same period of last year. On constant 2022 exchange rates, revenue stood at 1.404 billion pounds as against last year's 878 million pounds.
The Group said that it has completed 31 bolt-on acquisitions in the nine months to the end of September with annualized revenues of about 86 million pounds. In the third quarter, the company completed 7 deals, out of 6 in Pest Control, and the remaining one in Hygiene & Wellbeing, with annualized revenues of around 7 million pounds.
Looking ahead, Rentokil Initial, said: 'Overall, we expect to achieve good growth in the Group in the remainder of 2023. We continue to believe that the benefit of our diversified portfolio and strong H1 performance will enable us to deliver Group results broadly in line with current expectations. Our sustained focus on managing inflationary pressures means we remain on track to meet our full year guidance to grow Group adjusted operating margin to c.16.5%.'
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX