Rentokil Initial plc (RTO) shares took a significant hit on Wednesday after the company revised its guidance for the second half of FY24. The company expects North America organic revenue growth to be only around 1%, significantly lower than its previous prediction of 2-4%. This revised forecast is attributed to weaker-than-expected trading in July and August, along with integration challenges, and is anticipated to impact operating profit by £20 million.
J.Jill Inc (JILL) reported better-than-expected second-quarter earnings and sales, but lowered its 2024 forecast due to changes in consumer behavior. Despite the sales decline, the company saw a rise in direct-to-consumer sales and maintained healthy margins. Analysts have adjusted their price targets for J.Jill following the earnings announcement.
Malaysia’s economy experienced a strong rebound in the second quarter of 2024, with GDP expanding by 5.9%, exceeding initial estimates. This robust performance has led the central bank to revise its full-year growth forecast upwards, now predicting a range of 4-5% for 2024. The growth surge was driven by a combination of factors, including increased household spending, a healthy labor market, and a revival in exports and investment activities.
India’s merchandise exports are projected to hit a record $111.7 billion in the second quarter of the current fiscal year (Q2 FY25), marking a 4.2% year-on-year growth. This optimistic forecast is fueled by robust economic activity, government initiatives, and a favorable global environment. However, risks remain, including uncertain economic prospects in advanced economies, geopolitical tensions, and supply chain disruptions.
