StockMarketWire.com - Strong innovation and digital performance pushed Rentokil’s revenue growth up 10.8% in 2019, according to its full year results.

Ongoing revenue at the pest control firm were up 8.6%, while organic revenue grew 4.5% during the 12 months to December 31, 2019.

The group reported a 20 basis point improvement in its net operating margin at 13.8% and a 30 basis point improvement in customer retention at 86.2%.

During the period, Rentokil acquired 41 businesses, including 30 pest control and eight hygiene firms, principally within the emerging markets. The combined annualised revenues were £137m for a total cash spend of £316.5m.

Andy Ransom, CEO of Rentokil Initial plc, said: 'The Company performed strongly in 2019 with a combination of above-target organic growth and disciplined execution of M&A. Organic growth was driven by our increasing presence in growth markets, higher levels of customer retention and a strong innovation programme. In particular, our employer of choice programme continues to deliver outstanding results with increased levels of safety, training, motivation and retention of our colleagues.

'Looking forward into the new decade, key demographic trends such as urbanisation will enlarge our global pest control and hygiene markets, while we continue to focus on the relentless execution of our plan. We are confident of delivering further operational and financial progress in 2020.'




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