PEST control and hygiene firm Rentokil Initial revenue grew over the past three months thanks to recent acquisition.

The Camberley-based company reported revenue jumped 0.5 per cent to £761.9m for the third quarter of 2021. Shares dropped almost two per cent yesterday morning, although the business said it had seen a strong performance across key divisions.

Its disinfection business reported subdued revenue following intense demand for hygiene products in the early months of the pandemic last year. Disinfection sales reduced in line with expectations to £11.4m compared with £75.7m in the first quarter and £22.6m in the second quarter.

The company recently lifted sales and earnings goals, lifting its organic medium-term revenue growth target to between four per cent and five per cent up from three per cent to four per cent previously.

Andy Ransom, Rentokil's chief executive, said: "We have delivered a strong performance from our core businesses in the quarter and are confident of sustaining this momentum for the remainder of the year."

(c) 2021 City A.M., source Newspaper