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Rentokil profit surges on gains from Haniel joint venture

Stock MarketsJul 27, 2017 07:50
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© Reuters. Rentokil profit surges on gains from Haniel joint venture

British support services company Rentokil Initial Plc (L:RTO) said its pre-tax profit surged in the first-half, as the company gained from the disposal of businesses, including those transferred into the Haniel joint venture.

The company, which offers services such as pest control, hygiene and work wear supply, said pretax profit rose to 592.9 million pounds in the six months ended June 30, an increase of over 637 percent.

The company said last year it will combine parts of its workwear and hygiene units with those of Haniel, a family-owned German firm, to create a leading European provider with a combined revenue of about 1.1 billion euros.

Adjusted profit before tax for the period was 126 million pounds, an increase of 28.5 percent.

Rentokil profit surges on gains from Haniel joint venture
 

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