Alexa
  • Directory of Taiwan

Rentokil shares plunge on forecast

Rentokil shares plunge on forecast

Shares of Rentokil Initial PLC, the world's largest pest control business, plunged after the company said Thursday its City Link parcel delivery business may not break even this year.
Net income for the year through Dec. 31 more than doubled to 658.5 million pounds (US$1.31 billion; euro870 million), compared with 247.1 million pounds in the previous year, the company said in a statement. Sales rose 20 percent to 2.2 billion pounds (US4.4 billion).
"Absent City Link, we expect modest growth in adjusted profit before income tax from the rest of the group," said Rentokil Chief Executive Doug Flynn. The shares dropped fell 24 percent to 80.7 pence (US$1.60; euro1.06) on the London Stock Exchange.


Updated : 2021-06-18 05:24 GMT+08:00