The Rentokil Board is declaring an interim dividend payment of 2.75p, a 14.6% increase on the prior year period, payable to shareholders on the register at the close of business on 4 August 2023 and to be paid on 11 September 2023. The last day for DRIP elections is 18 August 2023.
Other financial highlights include:
●Revenue up 65.3%, reflecting the benefit of M&A, including Terminix. Strong Organic Revenue growth of 5.9%, reflecting growth across all regions, and driven by resilient underlying demand and continued effective pricing. Statutory Revenue up 69.9% to £2,671m at AER
-Organic Revenue growth of 4.1% in North America, achieved alongside the start of the integration pilot programme and exit of 64 branches; Organic Revenue growth of 4.8% in North America Pest Control services despite lower industry-wide lead flow from residential and termite customers
-Organic Revenue up 11.1% in Europe, the Group's second largest region
-Strong Organic Revenue growth across all business categories: 5.6% in Pest Control; 5.2% in Hygiene and Wellbeing; and 16.3% in France Workwear
●Adjusted Operating Profit increased 81.7%; 67.3% growth in Adjusted PBT at AER despite a £6m FX headwind. Statutory PBT up 48.1% to £240m at AER
-Group Adjusted Operating Margin up 150bps to 16.3%2, with margin expansion in Pest Control and France Workwear partly offset by Hygiene & Wellbeing, impacted in the half by COVID boosted prior year comparators
-North America Adjusted Operating Margin up 250bps to 18.5%, underpinned by the delivery of Terminix synergies
-Sustained strong price progression across all regions, accompanied by good customer retention
● Revenue up 65.3%, reflecting the benefit of M&A, including Terminix. Strong Organic Revenue growth of 5.9%, reflecting growth across all regions, and driven by resilient underlying demand and continued effective pricing. Statutory Revenue up 69.9% to £2,671m at AER
- Organic Revenue growth of 4.1% in North America, achieved alongside the start of the integration pilot programme and exit of 64 branches; Organic Revenue growth of 4.8% in North America Pest Control services despite lower industry-wide lead flow from residential and termite customers
-Organic Revenue up 11.1% in Europe, the Group's second largest region
-Strong Organic Revenue growth across all business categories: 5.6% in Pest Control; 5.2% in Hygiene and Wellbeing; and 16.3% in France Workwear
●Adjusted Operating Profit increased 81.7%; 67.3% growth in Adjusted PBT at AER despite a £6m FX headwind. Statutory PBT up 48.1% to £240m at AER
-Group Adjusted Operating Margin up 150bps to 16.3%, with margin expansion in Pest Control and France Workwear partly offset by Hygiene & Wellbeing, impacted in the half by COVID boosted prior year comparators
-North America Adjusted Operating Margin up 250bps to 18.5%, underpinned by the delivery of Terminix synergies
- Sustained strong price progression across all regions, accompanied by good customer retention
