Rentokil’s refocus delivers 637pc surge in first-half results

PEST control and hygiene firm Rentokil’s move away from lower growth businesses – such as its division that cleans and provides company uniforms – has boosted its profits by more than 637pc in the last six months.

The firm’s pre-tax profits stood at £592.9m in the first half of 2017, up from £80.4m in the same period last year. The surge came after Rentokil booked profit of £481.6m from moving some of its businesses into a new joint venture in December last year.

Its workwear and hygiene business in 10 European countries was transferred into a new vehicle with German peer Haniel.

This was intended to allow Rentokil to focus on its core pest control and cleaning businesses in growth markets, and the company will invest the money back into these divisions.

Shares in the firm rose 5.8pc, or 16p, to 290.8p yesterday.