Aug 3 British cleaning-to-pest control firm
Rentokil Initial Plc said profit rose 7 percent for the
first half of 2012, helped by lower costs, and that it expects
its beleaguered parcel business City Link to return to
profitability in the fourth quarter.
"Continued growth, coupled with further productivity
improvement at City Link, will deliver year-on-year improvement
in financial performance at constant exchange rates in the third
quarter, and most notably in the fourth quarter this year,"
Rentokil said in a statement.
Rentokil, which offers services from hiring work uniforms
and plants to catering, security and parcel deliveries, said
adjusted pretax profit rose to 73.5 million pounds ($114.06
million) for January-June at constant exchange rates.
Revenue rose 3 percent to 1.26 billion pounds at constant
Rentokil shares closed at 71.65 pence on Thursday on the
London Stock Exchange, valuing the business at around 1.3