About Rentokil Initial
Rentokil Initial (LON: RTO) provides pest control services. It offers remote monitoring systems, pest detection solutions, hygiene and well-being, and more. The company serves both residential and commercial clients. It was founded in 1925 and is based in Surrey, U.K.
Latest Rentokil Initial News
Oct 26, 2023
About Jeremy Cutler Jeremy has worked extensively in the world of financial journalism as a reporter at ICV News, deputy editor at S&P Marketscope and as a senior reporter for Thomson Financial’s Marketeye. A qualified accountant, former finance director and with a degree in Economics, Jeremy is well placed to analyse and explain the ups and downs of UK, European and US stockmarkets in Proactive’s daily market report Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. FTSE 100 Live: Stocks off lows as US GDP tops forecast, ECB holds rates Last updated: 14:25 26 Oct 2023, First published: 06:58 26 Oct 2023 Blue-chips are off earlier lows after the ECB left interest rates unchanged and US economic growth came in well above forecasts FTSE 100 down 31 points at 7,383 Standard Chartered hit by provisions in China ECB leaves interest rates unchanged 2:25pm: Renewi slides as Macquarie withdraws bid Renewi PLC (LSE:RWI) shares have slumped 21% after Macquarie said it was no longer considering bidding for the firm. Macquarie said "following multiple attempts to engage with Renewi's Board, including a revised proposal, all of which were rejected, it does not feel it is in an informed position to make an offer for Renewi." Milton Keynes-based Renewi turns waste into recycled products. In September, Macquarie said it had proposed a 775p per share bid which had been rejected. At the time, Renewi said the bid "fundamentally undervalues the value of Renewi and its prospects". Shares in Renewi are down 21% at 520p. 2:05pm: US economy grows by 4.9% in third quarter The FTSE 100 has come off its lows after the unchanged interest rates by the ECB and now with news of bumper economic growth in the US. The US economy picked up markedly in the third-quarter, posting the sharpest growth in almost two years, according to figures from the Bureau of Economic Analysis. Quarter-on-quarter gross domestic product in the US grew 4.9% on an annualised basis in the three months to September 30, compared to 2.1% in the second quarter. The figure was above the market consensus of 4.2% and was the biggest quarter-on-quarter GDP rise since a 7.0% increase in the fourth-quarter of 2021. "The increase in real GDP reflected increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, and residential fixed investment that were partly offset by a decrease in non-residential fixed investment. Imports,which are a subtraction in the calculation of GDP, increased," the BEA said. "The increase in consumer spending reflected increases in both services and goods." 1:30pm: ECB leaves interest rates unchanged The European Central Bank has kept interest rates unchanged, bringing an end to its streak of 10 consecutive increases in borrowing costs. The decision, which was announced after ECB rate-setters gathered in Athens for their annual meeting outside of the bank’s Frankfurt headquarters, was expected by analysts after eurozone inflation more than halved from its peak and the economy showed signs of weakening. The benchmark deposit rate is now 4%. We kept our interest rates unchanged at our latest meeting. See our monetary policy decisions https://t.co/ZXIUvujlVx pic.twitter.com/F54JWZQ7GD The Bank of England is expected to follow suit next week. 1.22pm: Market Movers Risers Kromek Group PLC (AIM:KMK) shares marched around 8% higher to 4.5p after it reported winning a US$5.9 million contract from the US Department of Homeland Security (DHS) to research and develop biosecurity technologies. Read More Shares of Ironveld PLC (AIM:IRON) , the AIM-listed mining development company, soared by 13% following the completion of a fundraiser that was completed at a premium to the prevailing price. Read More Fallers WPP PLC (LSE:WPP) shares fell to levels not seen in almost three years before recovering slightly after the company warned for the second time in as many months that full-year revenue will be lower than expected, with profit margins also being hit by weaker advertising spending in North America and China. Read More Standard Chartered PLC (LSE:STAN) shares tumbled 10% in exchanges after it reported a sharp drop in profit in the third quarter, taking a hit from its exposure to Chinese banking and real estate. Read More Argentex Group PLC (AIM:AGFX) , the foreign exchange company, saw its shares trade around 20% lower on Thursday after it confirmed the exit of its chief executive officer and founder Harry Adams. Read More 1:08pm: Heathrow raises passemger forecasts Heathrow has raised its forecasts for how many passengers it expects to travel through the airport this year, after more people flocked abroad in the summer. Britain’s biggest airport said it was now expecting 79.3 million travellers this year, up from its earlier forecasts for between 70 million and 78 million travellers. It said 2024 passenger numbers would be back at pre-pandemic levels. It comes after what Heathrow said was a “strong summer”. Revenues rose 30% in the nine-month period versus last year, hitting £2.7 billion. 12:44pm: Retail sales fall accelerates - CBI Retail sales fell in the year to October at a faster pace than last month, according to the latest CBI survey. Year-on-year sales have declined for six consecutive months, and retailers expect the downturn to continue in November (though at a slower pace), the CBI said. Retail sales fell in the year to October at a faster pace than last month, according to the latest CBI #DTS . Year-on-year sales have declined for six consecutive months, and retailers expect the downturn to continue in November (though at a slower pace) pic.twitter.com/ElhZ6RwqdL Retailers reported stocks as “too high” relative to expected sales in October. Stock positions are expected to soften somewhat next month. Martin Sartorius principal economist at the CBI. said: "As the festive period approaches, the retail sector remains in a perilous position. Sales volumes have been falling year-on-year for six months in a row, as cost-of-living concerns and higher interest rates weigh on consumer spending." 12:13pm: More falls expected in the US US stocks are expected to open lower as earnings from leading tech names fail to inspire investors. In pre-market trading, futures for the Dow Jones Industrial Average were 0.3% lower, while those for the S&P 500 were down 0.6%, and contracts for the Nasdaq 100 futures fell 1.0%. Facebook-parent Meta beat on top and bottom lines in the third quarter, but the company’s Reality Labs division lost $3.7 billion. The company also warned of continued macroeconomic uncertainty and lower advertising demand in the current quarter. Shares are 2.8% lower in pre-market trading while Alphabet looks likely to extend yesterday’s 9.5% drop, down a further 1.8% ahead of the opening bell. Amazon, Intel, Chipotle and Ford report after the market closes. Aside from company news, the US will release its preliminary estimate for third-quarter gross domestic product, with economists expecting the world’s largest economy to have expanded by 4.3%, accelerating from the previous quarter’s 2.1%. New orders for durable goods, those lasting more than one year, are forecast to have risen by 1.7% in September, up from a 0.1% August increase. Initial US jobless claims, a proxy for lay-offs, are projected to have increased by 10,000 to 208,000 last week. 11:44am: ECB expected to hold fire on rates Susannah Streeter, head of money and markets, Hargreaves Lansdown expects the ECB to join the “pause party” and leave interest rates on hold today, despite elevated energy prices. She pointed out rates are already at historically high levels, and with economies showing more signs of fragility, and the services sector expected to slow into the winter months, policymakers are expected to adopt a wait and watch policy for previous rate hikes to take full effect. Neil Wilson at Markets.com agrees. He pointed out at its last meeting the ECB signalled it was ready to coast in and developments since lend further support to a pause. Downside economic risks have become more pronounced and in particular the sharp rise in bond yields and market volatility in credit markets pose challenges for the ECB, he explained. He thinks given the firm conviction in the market that the ECB stands pat on rates and will not alter forward guidance much, market participants will be more interested in QT and any acceleration in this programme. 11:15am: Siemens Energy plunges, Mercedes slides Some big moves in Europe today. Shares in Siemens Energy plunged 34% after the wind turbine maker said it was in talks with banks and the German government over strengthening its balance sheet. #SiemensEnergy collapse more than 25% the after the company warns of worse-than-expected lossed at wind-turbine division. The company furthermore seek state guarantees from the #German government. The firm said it "is evaluating various measures to strengthen the balance sheet of Siemens Energy and is in preliminary talks with different stakeholders, including banking partners and the German government, to ensure access to an increasing volume of guarantees necessary to facilitate the anticipated strong growth." The firm said it expects full-year results to be in line with expectations. Mercedes is also on the slide, down 9%, after it reported a fall in third-quarter earnings and revenue amid a "subdued" market environment marked by "intense" price competition, particularly for electric vehicles. Volkswagen also said its performance in the third-quarter fell short of expectations and is focusing its efforts too on bolstering margins. 11:01am: Rentokil Initial falls again after Rollins update Rentokil Initial shares have fallen a further 6% today despite a more positive update from US pest control peer, Rollins. Analysts suggested that this showed Rentokil’s warning, issued last week, may be a company-specific problem, rather than something driven by a broader macro issue. Rollins reported last night in the US and delivered much stronger revenue growth than Rentokil did in the third quarter. Citigroup said that might indicate that Rentokil’s problems are its own. For the nine months to September 30, Peel Hunt said Rentokil ‘s North American pest control services business has underperformed Rollins by 4.5% (3Q -5.7%, 2Q -4.0%, 1Q -3.8%) Rollins chief executive Jerry Gahlhoff said ’Organic growth remains healthy. The demand for our services is solid and our pipeline for acquisitions is robust.” Quite a different reading from Rentokil’s assessment of the environment. 10:36am: Pizza Express looking at adding Wagamama to the menu Wagamama owner, Restaurant Group PLC is in the spotlight once more after confirming that Pizza Express was mulling a bid for the firm. Analysts at Liberum wondered whether it could prove to be just “a commercial fact-finding exercise,” noting press reports that the ‘public disclosure of its interest could prompt it to walk away’. Liberum explained that under the terms of the recommended 65p offer from Apollo, the c20% irrevocable undertakings only cease to be binding if a competing offer is made at a price of 71.5p or more. With shares sitting at 67.70p, above the 65p bid, the market is still giving some credence to a competing bid. 10:16am: WPP warning adds to unease in advertising market WPP shares have fallen 3.3% after another warning which analysts at Shore Capital “adds to the current sense off caution around the advertising market.” The advertising giant flagged that the third quarter was impacted by a continuation of the softer spending trends seen in the second quarter – notably in the US and from the tech sector - resulting in a weaker than anticipated outturn. ShoreCap expects to make a mid-high single digit reduction in its 2023 adjusted EPS estimate as a result. “Although not entirely surprising given macro conditions,” it is “disappointing to be downgrading having already done so at the half year stage.” But it continues to view WPP’s as a well-managed and deeply resourced global player with the potential for attractive long-term EPS and dividend per share growth and strong cash generation. Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown noted usually high-spending technology clients in North America have “applied the brakes” amid an uncertain economic backdrop. “While seeing growth go into reverse isn’t ideal, it’s not wholly unexpected given that advertising activity is a clear-cut barometer of the economy,” she said. She feels while WPP is doing what it can to combat these challenges, including consolidating and streamlining its offering there “are considerable speed bumps to traverse first. “ “As the digital world transforms at pace, this giant will have to move as nimbly as it can if it wants to thrive.” 9:51am: Big Tech fails to lift markets The hoped for list from results from the 'Magnificent Seven' has so far failed to bring the hoped for lift to equities. “The fall-out from a disappointing performance from Google-owner Alphabet’s cloud division continues as a wider tech sell-off feeds into the performance of European markets," said AJ Bell head of financial analysis Danni Hewson. “When you consider the negative reaction to Meta Platforms’ warning of weaker ad spend, despite, like Alphabet, posting better-than-expected earnings, then hopes big US tech might continue to drag markets higher on its back are starting to look increasingly forlorn. “It is notable that, thanks to their extremely strong run, beating earnings expectations is not, in itself, proving enough to support share prices." "Investors are looking beyond the headlines to see just how healthy the outlook really is for these businesses," she said. Meta Platforms reported better than expected third quarter revenue and earnings which initially sent shares higher. But the owner of Facebook and Instgram highlighted a declining ad market and an uncertain macro environment which pushed shares into reverse. 9:42am: Unilever sales and startegy update fails to excite Unilever’s trading and strategy update have not inspired the City with shares marked down 3.2%. Nicla Di Palma, equity analyst at RBC Brewin Dolphin, said while results met expectations, is a “real mixed set of numbers underneath.” “Disappointingly, in the year to date, it has only gained share in 38% of its categories compared to last year, which is low both compared to its history and to peers.” “Inflation so far has driven top line growth, but not profitability as not all cost increases have been passed onto consumers.” “Management has recognised the disappointing performance and has today presented an action plan to remedy that.” “However, this strategy has been tried unsuccessfully several times before and, as such, implementation will be key.” Matt Britzman, equity analyst at Hargreaves Lansdown said the Marmite maker delivered a decent third-quarter, though volumes were a little lower than expected. “It looks like consumers are struggling to justify forking out extra for a tub of Ben & Jerry’s as Ice Cream sales continue to struggle,” he noted. Ice cream was the only business area to show a decline in underlying sales growth. Britzman said the group’s strengths in emerging markets continue to shine through, but it’s closer to home, in Europe, where price hikes are still in double-digit territory and Personal Care’s the only business unit showing volume growth. “It’s hardly the end of the world, results were broadly in line with expectations and full-year guidance remains intact,” he added. Jefferies felt there was “not much here to excite.” “The new CEOs strategy update looks light on numbers / change, and comes on the back of a 3Q volume miss & another drop in % of business taking share,” the broker said. 9:15am: China a "blessing and a curse" for StanChart Shares in Standard Chartered remain down heavily, off 12%, folowing today's disappointing results which were ht by provisions in the Chinese banking and real estate sectors. Richard Hunter, head of markets at interactive investor, said that China remains "both a blessing and a curse for Standard, with the country’s faltering economic recovery weighing heavily on these results." He said the provisions have driven a bus through earnings, with pre-tax profit falling by 54% over the quarter to $633 million, which compares with $1.4 billion the previous year and expectations of $1.44 billion Gary Greenwood at Shore Capital said the results showed a “significant” statutory profit miss due to a further $0.7 billion impairment of the group’s investment in China Bohai Bank. However, even when this is excluded, underlying profit performance was worse than expected, with net interest income a notable miss. He said the current 2023 pre-tax profit consensus of $6.07 billion will likely settle closer to $5 billion given the disappointing results while underlying profit will also likely edge down slightly given the updated net interest margin guidance which may also have knock-on implications for future years. Although he pointed out the group continues to guide to an return on total equity (ROTE) of more than >11% for 2024 and beyond. He has a buy rating on the stock. Jefferies said the “sliver lining” is that the ROTE targets (10% for '23 and >11% for '24) have been reaffirmed and capital is robust at 13.9%. Aside from the impairment on Bohai and Chinese real estate hit the broker felt the underling picture is good. It too has a buy rating on StanChart. Hunter agreed that the underlying picture was “less harrowing” with operating income up by 4.5% to $4.52 billion and adjusted pre-tax profit down by just 2% to $1.32 billion, albeit slight shy of estimates. 8:49am: StanChart weighs on FTSE, Safestyle plunges 60% The FTSE 100 remains in the doldrums, down 51 points at 7,364. There are not too many shares in the green but DS Smith is holding firm, up 0.6%, after its trading update. The packaging firm said trading was in line with pricing proving more resilient. Standard Chartered is now down 11.9% after it profit miss, dragging HSBC down by 2.8%, while Rentokil Initial continues to slip, down a further 3.3%, after last week’s warning. This is despite what Peel Hunt called a strong trading update from US pest control peer, Rollins. Over to the FTSE 250, and Inchcape PLC (LSE:INCH) is up 2.7% after the car distributor maintained its guidance, which broker Peel Hunt should “reassure,” after recent weakness in the share price. Elsewhere, Safestyle has plunged 60% after it put itself up for sale after funding talks failed. 8:16am: FTSE 100 slips and Standard Chartered tumbles The FTSE 100 plunged in early exchanges as Standard Chartered slumped after taking a hit from its investment in China Bohai Bank. At 8:15am, London’s blue-chip index was down 46.93 points, 0.6%, at 7,367.41 while the FTSE 250 tumbled 90.29 points, 0.5%, at 16,780.42. Standard Chartered PLC (LSE:STAN) crashed 10% in early exchanges after reporting pre-tax profits well below City expectations after taking a write-down for its investment in China Bohai Bank. Shore Capital’s Gary Greenwood said that “underlying profit performance was worse than expected due to weaker than expected, with net interest income a notable miss.” He noted reported pre-tax profit of $633 million was below the consensus of $1.41 billion was a miss of 55%, primarily due to a $697 million write down on the group’s investment in China Bohai Bank, which has been impacted by recent challenging market conditions. WPP was another casualty, down 3.2%, after it warned on profits again due to slower ad spending in the US and China. Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown said: “Usually high-spending technology clients in North America have applied the brakes amid an uncertain economic backdrop.” “China’s also dragging performance down as the macro environment doesn’t lend itself to loose corporate spending.” “This has culminated in another reduction in full year expectations.” “While seeing growth go into reverse isn’t ideal, it’s not wholly unexpected given that advertising activity is a clear-cut barometer of the economy.” Unilever slipped 2.9% after its trading update with Jefferies saying “there is not much here to excite, we think”. It said the new CEOs strategy update “looks light on numbers/change, and comes on the back of a third quarter volume miss.” But Restaurant Group PLC perked up 1.5% after confirming Pizza Express could make a bid for the restaurant chain which owns Wagamama. 8:01am: Standard Chartered profit below expectations Standard Chartered PLC (LSE:STAN) reported a sharp drop in profit in the third quarter, taking a hit from its exposure to Chinese banking and real estate, although the bank backed its annual guidance. Bill Winters, chief executive, said: “We have continued to make strong progress in the third quarter against the five strategic actions outlined last year, delivering a solid set of results. Wealth Management has continued its recovery with double digit income growth and the Financial Markets performance has been resilient against a strong comparator period.” “We remain highly liquid, and well capitalised, with a CET1 ratio towards the top of our target range and confident in the delivery of our 2023 financial targets, including a return on tangible equity of 10%." The Asia-focused lender said operating income rose 4.5% to $4.52 billion from $4.33 billion a year before. However, pre-tax profit dropped 54% to $633 million from $1.39 billion, well below the USD1.41 billion pencilled in by analysts, according to the company-compiled consensus. The bottom-line hit came as credit impairments rose to $292 million from $227 million, which included further charges related to the Chinese commercial real estate sector. The firm also booked an impairment of around $700 million related to the reduction in the carrying value of its holding in China Bohai Bank. This reflected "subdued earnings and a challenging macroeconomic outlook" at Bohai, StanChart said. On an underlying basis, pre-tax profit eased to $1.32 billion from $1.35 billion, below the $1.44 billion figure expected by company-compiled analyst consensus. At the end of September, StanChart's CET1 ratio was 13.9%, up compared to 13.7% a year before, but down from 14.0% at the end of June. In the third quarter, the cost-to-income ratio rose to 63.5% from 62.3% a year prior. The bank reiterated that it expects income to increase by 12% to 14% at constant currency. It also still expects net interest margin to average about 170 basis points over the full year, and to achieve a return on tangible equity of 10%. 7:56am: Safestyle in talks to sell business as hopes for new finance fade Safestyle UK PLC (AIM:SFE) is in talks to sell all or parts of the business after failing to secure new financing. The UK retailer and manufacturer of PVCu replacement windows and doors had been in discussions regarding a capital injection or new financing but said these had so far not been fruitful. Safestyle said it was in “active discussions” with a shortlist of interested parties focused on a sale of some or all of the group's business and assets. The company is working with these parties towards concluding these discussions as quickly as possible. However, it cautioned there can be no guarantee that these negotiations will result in the completion of a sale, and, even if a sale does complete, there can also be no certainty on the timings or level of return, if any, to shareholders. 7:47am: WPP warns again amid lower US and China ad spend It's another busy morning and maybe not such a good one for WPP PLC (LSE:WPP) which has again warned that full-year revenue and profit margins will be lower than expected, as advertising spending fell in North America and China remained weak. The FTSE 100-listed ad giant revenues less pass-through costs fell 5% in the fourth quarter, although only 0.6% on a like-for-like (LFL) basis. Declines in the US saw increased levels of “cautious spending trends” from technology clients, an exacerbation of the problem that had led to the outlook being lowered at the half-year stage. Growth in UK, western Europe and the rest of the world was not enough to offset this. Guidance for 2023 is now for LFL revenue less pass-through costs growth of around 0.5-1.0%, down from 1.5-3.0% in August and 3-5% earlier after the first quarter. Moreover, headline operating margin is now expected to be 14.8-15.0%, excluding the impact of currency swings, down from the previous 15.0%. 7:44am: DS Smith says pricing more resilient than expected DS Smith PLC (LSE:SMDS) said trading remains in line with improved corrugated box volumes and more resilient pricing than expected. In a pre-close trading update, the packaging specialist said it expected with adjusted Ebita for the six months to 31 October to be approximately £360 million. As expected, like for like corrugated box volume performance has improved quarter on quarter, albeit remaining below the prior year, while pricing has remained more resilient than expected, the firm said. Reduced input costs and cost mitigation efforts have broadly offset the price declines, it added. Miles Roberts, chief executive, said: “Despite an ongoing weak macro-economic environment, we expect volume performance to improve, with second half volume performance anticipated to be better than the first half.” “We are positioned well for the remainder of FY24,” he added. 7:37am: Pizza Express mulls bid for Wagamama owner If the interest is firmed up, it could signal a bidding war for the owner of the Wagamama noodle bar chain, which has agreed to be bought by Apollo Global Management in a deal valued just north of £500 million. The Pizza Express approach was made by an entity called Wheel Topco, although the business itself is effectively under the ownership of debt funds such as Bain Capital Credit and Cyrus Capital Partners. Sky broke the news on Wednesday evening. 7:33am: Unilever sales grow 5.2%, price growth moderates We start the day with Unilever which has reported price growth continued to ease in the third quarter as it unveiled a 5.2% rise in underlying sales in the third quarter. The owner of Domestos and Ben & Jerry's said turnover decreased 3.8% to €15.2 billion, but underlying sales grew 5.2% boosted by higher prices, up 5.8%, while volumes fell 0.6%. The firm said underlying price growth continues to moderate as inflation eases, with underlying volumes now positive in Beauty & Wellbeing, Personal Care and Home Care. Beauty & Wellbeing underlying sales rose 7.4%, Personal Care sales rose 8.0%, Home Care sales rose 5.3%, Nutrition rose 5.6% but Ice Cream sales fell 2.8%. Unilever said its billion+ Euro brands, accounting for 56% of turnover, delivered underlying sales growth of 7.2%, with 5.7% price growth and 1.4% volume growth, led by strong performances from Dove, Hellmann's, Rexona and Sunsilk. The firm’s outlook remains unchanged with underlying sales growth above 5% and a modest improvement in underlying operating margin. Its new boss also announced an ‘action plan’ to boost performance saying that “performance in recent years has not matched our potential.” Chief executive Hein Schumacher said: “The quality of our growth, productivity and returns have all under-delivered.” The plan will focus on faster growth, greater productivity and simplicity including a stepping up of investment behind its ‘Power Brands.’ It is targeting underlying sales growth of 3-5%, modest margin expansion, mid-teens return on invested capital, EPS growth and an attractive dividend. Unilever also announced Fernando Fernandez has been appointed as its new chief financial officer. 7:00am: FTSE 100 expected to open sharply lower The FTSE 100 is expected to open sharply lower on Thursday after heavy falls in the US and ahead of the ECB interest rate decision. Spread betting companies are calling London’s lead index down by around 44 points after closing up 24.64 points at 7,414.34 on Wednesday. In the US, the Dow Jones Industrial Average fell 0.3%, the S&P 500 slipped1.4% and the tech-heavy Nasdaq Composite tumbled 2.4%. It was the Nasdaq's worst day since February, while the S&P hit its lowest level since June. The tech sell-off was led by Google parent Alphabet, as its shares plunged 9.5% after disappointing cloud sales offset an earnings and revenue beat. Meta Platforms beat expectations for revenue and earnings, but shares fell back as the owner of Facebook warned of continued macroeconomic uncertainty and lower advertising demand in the current quarter. In Europe, the ECB is expected to leave interest rates unchanged. Back in London, and the early focus will updates from Standard Chartered, Unilever and WPP. Wagamama owner Restaurant Group PLC may also attract interest on reports Pizza Express could make a rival bid for the restaurant chain. Add related topics to MyProactive
Rentokil Initial Frequently Asked Questions (FAQ)
When was Rentokil Initial founded?
Rentokil Initial was founded in 1925.
Where is Rentokil Initial's headquarters?
Rentokil Initial's headquarters is located at Riverbank, Meadows Business Park, Surrey.
What is Rentokil Initial's latest funding round?
Rentokil Initial's latest funding round is Acquired.
Who are the investors of Rentokil Initial?
Investors of Rentokil Initial include EQUUS Total Return, The CapStreet Group and Moore Clayton Capital Advisors.