The pest control and hygiene giant Rentokil published a trading update today cautioning again that the performance of its North American division wasn’t meeting expectations. That’s resulted in the company revising down full year profit forecasts, as well as mooting job cuts as it attempts to better align expenditure with income. Investors have been quick to react however with the Rentokil share price being marked back by almost 20% in the first hour of trade.
The brand perhaps best known for its stores on UK high streets and in train stations has published a pre-close trading update this morning which includes news of a £50m capital return to shareholders via a buyback scheme. Q4 was strong and the full year outcome was as expected. Travel stores continue to drive growth at the expense of the high street, although there’s hope that the integration of Toys R Us shops-within-shops may lend some support. The WH Smiths share price is up by more than 10% in early trade on Wednesday.
Half year numbers from the internet ratings company are out today, headlining with news that profitability is ahead of market expectations and the share buyback scheme is being extended by a further £20m. Revenues advanced 18%, delivering a post-tax profit of $7.7m against a loss of $2.5m for the comparative. The popularity of the service amongst consumers is also notable with a 24% increase in the number of reviews and a 28% uptick in monthly unique users.
Headlines we expect on Thursday
Keir Group Final Results
This time last year Revenues £3.4bn, Operating profit £131.5m, Net cash £64.1m
Renishaw Final Results
This time last year Revenues £689m, Pre-tax profit £141m, Dividend 76.2p
