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Rentokil annual profit jumps as pest control demand recovers

By Reuters

– Rentokil said on Thursday its annual profit jumped 17%, helped by strong demand for pest control services from businesses in its dominant North American market after COVID restrictions were eased.

The British pest control services provider, however, faced weaker demand in markets including Australia, New Zealand, Malaysia and Indonesia, which had imposed lockdowns in the second half of 2021.

During the peak of the coronavirus pandemic, London-listed Rentokil turned its focus instead to expanding its hygiene segment as the health crisis spurred demand for cleaning products and pest control took a back seat.

“With the worst of the pandemic hopefully behind us, and by building further on the momentum of 2021 in our core businesses, we are confident of delivering further good progress in the year ahead,” Chief Executive Officer Andy Ransom said in a statement.

The company, which offers hand soaps, sanitisers, deep cleaning and pest control services, said adjusted pretax profit rose to 416.5 million pounds ($558.5 million) in 2021, compared with 355.2 million pounds a year earlier.

($1 = 0.7458 pounds)