Rentokil Initial Shares Plunge After Lowered North America Revenue Forecast

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.

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