Secret Site Map
Friday, October 24, 2014

Home News Rentokil Announces 2013 Preliminary Results

Rentokil Announces 2013 Preliminary Results

News Coverage

In 2013, the company’s revenue rose 3.2 percent, driven largely by Rentokil’s North American pest control business.

Brad Harbison | March 5, 2014

On Feb. 28, Rentokil CEO Andy Ransom announced 2013 preliminary results. For 2013, the company’s revenue rose 3.2 percent, driven largely by Rentokil’s North American pest control business.

Ransom also announced that Rentokil is selling Initial Facilities to Interserve Plc (IRV), a provider of cleaning and security services, for $418 million to focus on improving profitability and growth at its pest, hygiene and workwear businesses. “It was clear that this business was not core to Rentokil,” he said. “It’s UK-based and we are focused on expanding into the emerging markets and the US. It also operates at a lower margin point than the rest of our business.”

Ransom noted that Rentokil Pest Control was the company’s lead category, representing 35% of group revenues. It has leading positions in most markets including Europe, Asia and Pacific, and Rentokil will be using pest operations as a vehicle for entering new markets (e.g., emerging  economies of Brazil and Turkey). Ransom added that Rentokil is “looking to capitalize on North American growth opportunity to enhance our national accounts infrastructure.

INTERNATIONALACQUISITION. On March 5, Rentokil Initial announced it bought Chilean pest-control firm Bestway for an undisclosed sum to expand its Latin American business.

"We have been targeting Chile as the next step in our Latin America expansion strategy following acquisitions in Mexico and Brazil, both of which are performing ahead of our expectations," Ransom said.

Bestway had revenue of $18.39 million in 2013, employs 274 people and brings a local management team, led by Chief Executive Gerardo Guzman, into the company, Rentokil said. Bestway is the market leader in hygiene services and the third largest provider of pest control services in Chile, it added.
 

Top news

ScottsMiracle-Gro Signs Definitive Agreement to Acquire Action Pest Control

The Scotts Miracle-Gro Company announced that its subsidiary EG Systems, Inc., doing business as Scotts LawnService, has signed a definitive agreement to acquire the assets of Action Pest Control, Evansville Ind., which ranked 56th on the 2014 PCT Top 100 list, with annual revenues of $11.6 million. The transaction, which is expected to close by January 2015, would mark Scotts’ first acquisition of a structural pest control business.

WCBB Raising Funds to Help Injured Industry Professional

Trade group Wildlife Control Business Builders (WCBB) is raising funds to help ECO Wildlife Solutions' Susan Sims, who suffered serious injuries as a result of a ladder fall.

Study Examines Disease Potential of NYC's Rats

Columbia University researchers spent a year collecting 133 rats in Manhattan. They found that the specimens were carrying food-borne illnesses like salmonella, as well as fever-inducing illnesses.

NPMA Looks to the Future During PestWorld Opening Ceremony

More than 3,000 industry professionals from 80-plus countries have traveled to Orlando, Fla., for PestWorld ’14. The Opening Ceremony, sponsored by Bayer, featured musical act Rhythm Extreme.

NPMA Pinnacle Award Presented to Tom Fortson

Fortson, longtime president of Terminix Service, Columbia, S.C., was announced as recipient of the NPMA Pinnacle Award, NPMA’s highest honor.

x