Reported 29 days ago
Rentokil Initial Plc experienced a significant shares drop of 20% in London, losing over £2 billion in market value after announcing lower growth expectations for its North American operations. Organic revenue growth in the region is expected to slow to about 1% in the latter half of the year due to disappointing trading performance in July and August, prompting analysts to forecast a 10% reduction in adjusted pretax profit estimates.
Source: YAHOO