Rentokil profits soar after cuts programme

RENTOKIL profits have surged after a cost-cutting programme.

The company had an adjusted pretax operating profit of £166.5m in 2009 – an increase of 54 per cent compared with the previous year.

Despite the rise Rentokil said it would not pay a final dividend because of the continuing economic uncertainty.

Chief Executive Alan Brown said: “Although we see no easing in economic conditions across most of our markets this year, our objectives are to deliver modest revenue growth, take out more costs, and make further improvements in customer service.”

Rentokil slashed costs by £82m last year and aims to reduce expenses by a further £75m in 2010.