Rentokil profits down 55.9%

Rentokil Initial today said parcel delivery business City Link remained “significantly loss making” as the group reported a 55.9% slump in operating profits.

The firm, which also provides pest control and hygiene services, reported profits of £32.3m (€40m) at constant exchange rates for the third quarter to September 30, down from £73.3m (€90m) last year.