LONDON (dpa-AFX) - Rentokil Initial (RTO.L, RTOKY.PK), a British commercial
pest control services company, on Thursday reported that its fiscal 2023 profit
before tax climbed 67 percent to 493 million pounds from last year's 296 million
pounds.

Earnings per share were 15.14 pence, up 30.8 percent from 11.57 pence a year
ago.

Adjusted profit before tax was 766 million pounds, compared to last year's 532
million pounds. Adjusted earnings per share were 23.08 pence, compared to 21.22
pence a year ago.

Adjusted EBITDA climbed 43 percent from last year to 1.23 billion pounds.

Revenue for the year grew 44.7 percent to 5.38 billion pounds from last year's
3.71 billion pounds. Revenue growth was 45.8 percent at constant exchange rates.

Further, the Board recommended a final dividend of 5.93 pence, bringing total
dividend for 2023 of 8.68 pence per share, an increase of 15 percent.

Looking ahead, Rentokil Initial said it starts the year 2024 with confidence in
plans, and expects good underlying trading momentum, supported by RIGHT WAY 2
plan to reinvigorate organic growth in North America.

The company expects Organic Revenue growth in North America to be around 2
percent in first quarter and between 2 percent to 4 percent in the full year.

Based on good progress to date, the company raised its expectations for annual
pre-tax synergies from the Terminix integration by a further $50 million to
around $325 million gross or around $225 million net.

The company sees modest North America margin progression in 2024.

The medium term Group margin target of greater than 19 percent is expected to be
achieved in 2026.

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