UK’s Rentokil posts sturdy first-quarter revenue on improved prices

Rentokil Initial reported on Thursday ​first-quarter organic revenue growth of ‌3.4%, ​helped by price increases and continued momentum in North America, and said it was confident of delivering a full-year performance in line with ⁠market view.The announcement marked the first trading update under Mike Duffy, who became chief executive officer of ‌the British pest control company on March 16.Here are some details:Group ‌revenue for the three-month period ‌ended March 31 came in at $1.68 ‌billion, up ‌4.3% on a constant-currency basisRevenue in its ​North American ‌business ​rose 4.5% to $995 million, with ⁠organic growth of 3.9%, driven by price increases and recovery from weather ​disruption ⁠in ⁠late JanuaryThe Middle East, North Africa and Turkey (MENAT) region experienced disruption ⁠from the Middle East conflict, creating a 60-basis-point headwind alongside weaker comparatives in the Pacific regionInternational revenue increased 4.1% to $682 million, though the ‌Middle East conflict disrupted the MENAT region​The company also completed nine bolt-on acquisitions delivering $19 million in annualized revenue