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Rentokil Initial Q1 Revenue Up 10.3% At AER

Pest control firm Rentokil Initial Plc. (RTOKY.PK,RTO.L) reported that its revenue for the first-quarter rose 10.3 percent to 607.4 million pounds at actual exchange rates, while it was up 8.6 percent at constant exchange rates.

The company said that trading has started well across businesses in the first-quarter with ongoing revenue increasing by 8.9% at constant exchange rates, of which 4.0% was Organic Revenue growth and 4.9% was from acquisitions.

Ongoing Revenue in Pest Control grew by 12.0%, 5.0% Organic, with good performances being delivered across both Growth and Emerging markets, which rose by 12.1% and 11.5% respectively. Hygiene has made a very positive start to the year, with Ongoing Revenue growth of 7.2% and Organic Revenue growth of 4.3%.Ongoing Revenue in Protect & Enhance markets was in line with the first-quarter of 2018.

Andy Ransom, Chief Executive, said, "We have had a good start to 2019 and I'm pleased with our performance in the first three months of this year. I am confident of another year of successful growth for the Company, in line with market expectations."

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