Rentokil spree pays off

RENTOKIL Initial has reiterated plans to spend heavily on acquisitions, after a boost from buying sprees in the first quarter.

It reported an 8.9pc rise in revenue to £603.6m.

The growth was 4pc organic while 4.9pc came from acquisitions. Revenue in pest control surged 12pc, while hygiene was up 7.2pc.

Chief executive Andy Ransom said: ‘ We have had a good start to 2019 and I’m pleased with our performance. I am confident of another year of successful growth for the company.’

Rentokil made eight acquisitions, with combined annual revenues of £29m. Its guidance for mergers and acquisitions spending in 2019 remains in the range of £200m to £250m.