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Rentokil Initial trains 7,000 staff for deep clean services amid pandemic

The hygiene specialist still reported reduced activity due to customers being temporarily shuttered

Rentokil Initial - Rentokil Initial trains 7,000 staff for deep clean services amid pandemic

Rentokil Initial PLC (LON:RTO) has trained 7,000 staff for deep clean services though performance is still hit by market disruption due to the pandemic.

The FTSE 100-listed company said both of its segments, pest control and hygiene services, were designated as essential services in the majority of its markets.

READ: Rentokil Initial expects higher demand for disinfection services over pandemic

There has been “strong global demand” for products, such as hand sanitisers, and services such as disinfection, “with a substantial pipeline of new business being built”.

However, activities have decreased due to customers being temporarily shuttered.

Rentokil is eligible to receive funds from the government's Covid Corporate Financing Facility, where it has £1.2bn of cash available of which £550mln was drawn down.

Cost-cutting measures are expected to save £500mln in 2020.

In the quarter to 31 March, revenue advanced 6% to £634mln compared to last year.

Looking ahead, the pesticide producer is preparing for a “recovery phase” in which customers, such as offices and schools, will be ask for deep cleans before reopening.

In the medium term, the firm expects to target “strategic opportunities” as global regulations on hygiene are tightened.

Shares advanced 3% to 404.7p on Thursday morning.

Quick facts: Rentokil Initial PLC

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Price: 608.6 GBX

Market Cap: £11.32 billion

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