UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________
FORM 6-K
__________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For
the month of April 2026
Commission File Number: 001-41524
___________________________________
Rentokil Initial plc
(Registrant’s name)
___________________________________
Compass House
Manor Royal
Crawley
West Sussex RH10 9PY
United Kingdom
(Address of principal executive office)
_____________________________________
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form
40-F ☐
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1): ☐
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7): ☐
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Q1
Trading Update dated 16 April 2026
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16
April 2026
RENTOKIL INITIAL PLC - FIRST QUARTER TRADING UPDATE
Rentokil Initial plc ("the Group"), today issues a Trading Update
for the first three months of the 2026 financial year covering the
period 1 January 2026 to 31 March 2026.
Mike Duffy, Chief Executive of Rentokil Initial plc,
said:
"We
have made a good start to the year in a seasonally quieter first
quarter, with continued momentum in North America and solid
progress across our International businesses.
"In
my first four weeks as CEO, I have been impressed with the depth of
passion and pride that our people have in delivering exceptional
customer service, and I am excited by the opportunity to unlock the
potential of the Group.
"While
geopolitical events, as previously noted, continue to create some
uncertainty, the progress we report today gives us confidence in
delivering a full year performance in line with market
expectations."
Group
Group Revenue for the quarter was $1,677m, up 4.3%. Organic
Revenue growth was 3.4%.
North America
Revenue for the quarter was $995m, up 4.5%. Organic Revenue
growth was 3.9%.
North America Pest Control Revenue growth was 4.7%. Organic
Revenue growth was 4.1%.
●
Pest Control
Services Organic Revenue growth was 2.8% (2.6% in Q425),
supported by robust price increases and good recovery of
weather-related disruption in late January across the US.
Performance through the quarter continued to benefit from our
growth initiatives focused on enhancing marketing investments and
improving sales execution.
●
Business Services
Organic Revenue growth was 12.7% (7.8% in Q425) supported
by strong pre-spring demand in product distribution, contribution
from 2025 new business wins in brand standards and high-value job
work in lake management.
Colleague retention increased to 82.6% (FY25: 82.2%) and
customer retention was broadly flat at 80.4% (FY25:
80.5%).
International (Group excluding North America)
Revenue for the quarter was $682m, up 4.1%. Organic Revenue
growth was 2.8%.
Good growth in Europe, Latin America and the UK & Sub-Saharan
Africa was driven by strong pricing and growth in volumes. Pacific
and MENAT were a 60bps headwind as the Pacific lapped strong
comparatives in Rural and Trackspray, and MENAT experienced
disruption from the Middle East conflict.
Category Performance
Pest
Control Organic Revenue growth was 3.7%, with 4.1% growth in North
America and 2.8% growth in International (3.0% excluding
MENAT).
Hygiene
& Wellbeing Organic Revenue grew by 2.1%, with 2.7% in
International and a decline of (2.7)% in North America, impacted by
a later phasing of construction timelines delaying Ambius jobbing
revenue.
M&A
The
Group's bolt-on M&A programme continued to create value with 9
deals, delivering annualised revenue in the year before acquisition
of $19m.
Conference Details
Today,
16 April, at 9:00am BST, Rentokil Initial Chief Financial Officer,
Paul Edgecliffe-Johnson will host a conference call for analysts
and investors. A replay will be available on the Company website
(https://www.rentokil-initial.com/investors.aspx) following the
event.
To
access the live audio webcast, register via the following
link:
https://www.netroadshow.com/events/login/LE9zwo494GfiEWkBjeE6pecNQUQqzstvPAu
Alternatively,
to join via teleconference, please register in advance using the
link below:
https://www.investis-live.com/rentokil/69ca82a0fed46a000febe69d/mfbe
Enquiries:
Investors
/ Analysts: Heather Wood, Rentokil Initial plc, +44 7808
098793
Media:
Malcolm Padley, Rentokil Initial plc, +44 7788 978199
Notes:
To help understand the underlying trading performance, unless
otherwise stated, all commentary and comparable analysis relates to
the continuing operations of the Group on a constant currency
basis.
Organic Revenue growth represents the growth in Revenue
at constant
currency excluding the effect of businesses acquired during
the year. Acquired businesses are included in organic measures in
the year following acquisition, and the comparative period is
adjusted to include an estimated full year performance for growth
calculations (pro forma revenue).
North America includes Pest Control (Pest Control Services and
Business Services) and Hygiene & Wellbeing.
North America Pest Control Services is Pest Control excluding
Business Services.
Summary of Financial Performance
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Revenue
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Q1 2026
$m
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Q1 2025
$m
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Change (reported)
%
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Change(constant currency)
%
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Organic Revenue Growth%
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North America
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995
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951
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4.6%
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4.5%
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3.9%
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Pest Control
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965
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921
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4.8%
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4.7%
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4.1%
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-
Pest Control Services
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829
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801
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3.5%
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3.5%
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2.8%
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-
Business Services
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136
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120
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13.3%
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12.7%
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12.7%
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Hygiene & Wellbeing
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30
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30
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-
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(1.5)%
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(2.7)%
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International
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682
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605
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12.7%
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4.1%
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2.8%
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Pest
Control
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405
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359
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12.8%
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4.6%
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2.8%
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Hygiene
& Wellbeing
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277
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246
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12.6%
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3.5%
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2.7%
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Total
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1,677
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1,556
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7.8%
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4.3%
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3.4%
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Category Performance
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Revenue
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|||
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Q1 2026
$m
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Q1 2025
$m
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Change (reported)
%
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Change(constant currency)
%
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Organic Revenue Growth%
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Pest Control
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1,370
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1,280
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7.0%
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4.6%
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3.7%
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Hygiene & Wellbeing
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307
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276
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11.2%
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3.0%
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2.1%
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Total
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1,677
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1,556
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7.8%
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4.3%
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3.4%
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Cautionary statement
In order to utilise the 'safe harbour' provisions of the U.S.
Private Securities Litigation Reform Act of 1995 (the "PSLRA") and
the general doctrine of cautionary statements, Rentokil Initial plc
("the Company") is providing the following cautionary statement:
This communication contains forward-looking statements within the
meaning of the PSLRA. Forward-looking statements can sometimes, but
not always, be identified by the use of forward- looking terms such
as "believes," "expects," "may," "will," "shall," "should,"
"would," "could," "potential," "seeks," "aims," "projects,"
"predicts," "is optimistic," "intends," "plans," "estimates,"
"targets," "anticipates," "continues" or other comparable terms or
negatives of these terms and include statements regarding Rentokil
Initial's intentions, beliefs or current expectations concerning,
amongst other things, the results of operations of the Company and
its consolidated entities ("Rentokil Initial" or "the Group"),
financial condition, liquidity, prospects, growth, strategies and
the economic and business circumstances occurring from time to time
in the countries and markets in which Rentokil Initial operates.
Forward-looking statements are based upon current plans, estimates
and expectations that are subject to risks, uncertainties and
assumptions. Should one or more of these risks or uncertainties
materialise, or should underlying assumptions prove incorrect,
actual results may vary materially from those indicated or
anticipated by such forward-looking statements. The Company can
give no assurance that such plans, estimates or expectations will
be achieved and therefore, actual results may differ materially
from any plans, estimates or expectations in such forward-looking
statements. Important factors that could cause actual results to
differ materially from such plans, estimates or expectations
include: the Group's ability to integrate acquisitions
successfully, or any unexpected costs or liabilities from the
Group's disposals; difficulties in integrating, streamlining and
optimising the Group's IT systems, processes and technologies,
including artificial intelligence technologies; the Group's ability
to attract, retain and develop key personnel to lead the Group's
business; the availability of a suitably skilled and qualified
labour force to maintain the Group's business; cyber security
breaches, attacks and other similar incidents, as well as
disruptions or failures in the Group's IT systems or data security
procedures and those of the Group's third-party service providers;
inflationary pressures, such as increases in wages, fuel prices and
other operating costs; weakening general economic conditions,
including changes in the global job market or decreased consumer
confidence or spending levels, especially as they may affect demand
from the Group's customers; the Group's ability to implement its
business strategies successfully, including achieving its growth
objectives; the Group's ability to retain existing customers and
attract new customers; the highly competitive nature of the Group's
industries; extraordinary events that impact the Group's ability to
service customers without interruption due to a material incident,
including a loss of its third-party distributors; the impact of
environmental, social and governance ("ESG") matters, including
those related to climate change and sustainability, on the Group's
business, reputation, results of operations, financial condition
and/or prospects; supply chain issues, which may result in product
shortages, cost increases or other disruptions to the Group's
business; the Group's ability to protect its intellectual property
and other proprietary rights that are material to the Group's
business; the Group's reliance on third parties, including
third-party vendors for business process outsourcing initiatives,
investment counterparties, and franchisees, and the risk of any
termination or disruption of such relationships or counterparty
default, fraudulent activity or litigation; any future impairment
charges, asset revaluations or downgrades; failure to comply with
the many laws and governmental regulations to which the Group is
subject or the implementation of any new or revised laws or
regulations that alter the environment in which the Group does
business, as well as the costs to the Group of complying with any
such changes and the risk of related litigation; termite damage
claims and lawsuits related thereto and any associated impacts on
the termite provision; the Group's ability to comply with safety,
health and environmental policies, laws and regulations, including
laws pertaining to the use of pesticides; any actual or perceived
failure to comply with stringent, complex and evolving laws, rules,
regulations and standards in many jurisdictions, as well as
contractual obligations, including data privacy and security, and
any litigation (including class action claims and lawsuits) related
to such actual or perceived failures; the identification of
material weaknesses in the Group's internal control over financial
reporting within the meaning of Section 404 of the Sarbanes-Oxley
Act; changes in tax laws and any unanticipated tax liabilities;
adverse credit and financial market events and conditions, which
could, among other things, impede access to or increase the cost of
financing; the restrictions and limitations within the agreements
and instruments governing the Group's indebtedness; a lowering or
withdrawal of the ratings, outlook or watch assigned to the Group's
debt securities by rating agencies; an increase in interest rates
and the resulting increase in the cost of servicing the Group's
debt; and exchange rate fluctuations and the impact on the Group's
results or the foreign currency value of the Company's ADSs and any
dividends. The list of factors presented here is representative and
should not be considered to be a complete statement of all
potential risks and uncertainties. Unlisted factors may present
significant additional obstacles to the realisation of
forward-looking statements. The Company cautions you not to place
undue reliance on any of these forward-looking statements as they
are not guarantees of future performance or outcomes and that
actual performance and outcomes, including, without limitation, the
Group's actual results of operations, financial condition and
liquidity, and the development of new markets or market segments in
which the Group operates, may differ materially from those made in
or suggested by the forward-looking statements contained in this
communication. Except as required by law, Rentokil Initial assumes
no obligation to update or revise the information contained herein,
which speaks only as of the date hereof.
The Company makes no guarantee that trends in the management of
termite damage claims will continue. Additionally, the Company
makes no guarantee that its operational improvement plans will
mitigate against or reduce the number of termite damage claims
(litigated and non-litigated) against the Company nor that these
plans will reduce the ongoing cost to resolve such
claims.
Additional information concerning these and other factors can be
found in Rentokil Initial's filings with the U.S. Securities and
Exchange Commission ("SEC"), which may be obtained free of charge
at the SEC's website, http:// www.sec.gov, and Rentokil Initial's
Annual Reports, which may be obtained free of charge from the
Rentokil Initial website,
https://www.rentokil-initial.com
No statement in this communication is intended to be a profit
forecast and no statement in this communication should be
interpreted to mean that earnings per share of Rentokil Initial for
the current or future financial years would necessarily match or
exceed the historical published earnings per share of Rentokil
Initial.
This communication presents certain non-IFRS measures, which should
not be viewed in isolation as alternatives to the equivalent IFRS
measure, rather they should be viewed as complements to, and read
in conjunction with, the equivalent IFRS measure. These include
revenue and measures presented at actual exchange rates ("AER" -
IFRS) and constant currency ("CER" - Non-IFRS). Non-IFRS measures
presented also include Organic Revenue Growth. The Group's internal
strategic planning process is also based on these measures, and
they are used for incentive purposes. These measures may not be
calculated in the same way as similarly named measures reported by
other companies.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Date:
16 April 2026
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RENTOKIL INITIAL PLC
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/s/
Rachel Canham
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Name:
Rachel Canham
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Title:
Group General Counsel and Company Secretary
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