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    RTO   GB00B082RF11

RENTOKIL INITIAL PLC

(RTO)
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Rentokil Initial : quarterly revenue jumps nearly 10% on disinfection boost

10/22/2020 | 02:45am EDT

(Reuters) - Rentokil Initial reported a 9.8% rise in third-quarter revenue on Thursday, as a higher focus on hygiene standards due to the COVID-19 pandemic boosted demand for its disinfection services.

The provider of hand soaps, sanitizers and deep cleaning services has this year introduced new services and expanded its hygiene category into more countries as people increasingly worry about health and hygiene due to the pandemic.

Rentokil said full-year results were expected to at least meet expectations and reiterated it would resume 2020 dividends if the second half performs within its expectations, having suspended payouts earlier this year.

The pest control company posted ongoing revenue of 754.6 million pounds for the quarter, underpinned by a 53% jump in the disinfection business.

However, Rentokil said it expects demand for its one-time disinfection services to reduce as businesses return to more normal trading.

The threat of a resurgence in global coronavirus cases, new and ongoing restrictions, potential customer insolvencies and bad debt could hurt the company's business, Chief Executive Officer Andy Ransom said.

Operating in around 80 countries and employing roughly 43,000 people globally, Rentokil's services to hotels, restaurants, schools and the airline industry were stalled by lockdowns.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Aditya Soni)


ę Reuters 2020
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Analyst Recommendations on RENTOKIL INITIAL PLC
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Financials
Sales 2021 2 993 M 4 092 M 4 092 M
Net income 2021 243 M 333 M 333 M
Net Debt 2021 1 253 M 1 713 M 1 713 M
P/E ratio 2021 45,4x
Yield 2021 1,00%
Capitalization 10 962 M 14 984 M 14 984 M
EV / Sales 2021 4,08x
EV / Sales 2022 3,80x
Nbr of Employees 44 500
Free-Float 98,8%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 592,00 GBX
Average target price 591,83 GBX
Spread / Average Target -0,03%
EPS Revisions
Managers and Directors
Andrew M. Ransom Chief Executive Officer & Executive Director
Stuart Ingall-Tombs Chief Financial Officer & Director
Richard Solomons Chairman
Mark Purcell Chief Information Officer
Julie Southern Independent Non-Executive Director
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