Rentokil boosted by overdue recovery of City Link

Rentokil Initial, the laundry and pest control conglomerate, says its troubled courier division will turn a profit by the end of the year, while first half profits across the whole business have risen dramatically.

Rentokil Initial, the laundry and pest control conglomerate, says its troubled courier division will turn a profit by the end of the year, while first half profits across the whole business have risen dramatically.

Profits before tax in the six months to the end of June came in at £46.6m, a 75% rise over the previous year at constant exchange rates. The company says this was due to a drop in one-off costs compared to the same period of 2011 and an £11.1m reduction in amortisation costs.

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