Rentokil profits slip on restructuring

British hygiene-to-pest control group Rentokil Initial reported profits down 6.2% to £251.4m (€374m) last year amid a company-wide overhaul to get the business back on track.

The group said its recovery programme had begun to pay off in the three months to the end of December, with adjusted profit before tax showing a 1% rise on 2005 to £73.1m (€109m) in the fourth quarter, although this excluded a number of large one-off costs.