Rentokil Results Aren't Good Enough, RBC Says

Dow Jones
07/30

0736 GMT - Rentokil's first half was mixed, with higher Ebita and adjusted pretax profit but weakness in North America, RBC Capital Markets says. "We don't expect to materially change our forecasts, but these results aren't good enough today." The pest-control company will reinvest more resources into the region--funded by cost savings elsewhere--and retired its 20% margin target for 2027, analysts Andrew Brooke and Karl Green say. However, Rentokil is still expected to deliver on guidance, they add. Shares are down 17% at 369 pence.

 

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