Rentokil revenue lifted by North American market

Rentokil revenue lifted by North American market

Rentokil Initial PLC reported Thursday a rise in revenue during the first quarter on the back of a strong North American market and a return to growth of its core pest-control business.

The pest-control group said revenue in the period rose 13% year-on-year to 713.6 million pounds ($994.2 million), including a 39% jump to GBP332.6 million from its North American operations.

The FTSE 100 company said trading conditions in the U.K. and Europe have been hurt by coronavirus pandemic but are expected to improve significantly over the coming weeks, reflecting progress in the vaccinations and subsequent easing of restrictions.

Still, the recent reintroduction of lockdowns in parts of Europe are likely to result in a slower recovery of the European markets, now expected to be several weeks behind that of the U.K., Rentokil said.

The company also said it anticipates continued momentum throughout the whole year, but that its disinfection services are likely to reduce materially from the second quarter.

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