The increase in bed bug inquiries was not enough to save Rentokil Initial.
Shares in the pest control company, dubbed the ‘royal rat catcher’ after its contracts at Buckingham Palace in the 1960s, fell 18.6 per cent, or 110.9 pence, to 483.9 pence after it warned of weaker demand in North America.
The FTSE 100 company said sales in the region, which account for 60 per cent of group revenue, rose just 2.2 per cent in the three months to the end of September.
It warned that its performance in North America would be “slightly below previous expectations.”
That dampened a “good overall performance” as third quarter revenue rose 53 per cent to £1.4bn.
Fall: Shares in Rentokil, dubbed the ‘royal rat catcher’ after its contracts at Buckingham Palace in the 1960s, fell 18.6% after warning of weaker demand in North America.
Rentokil said inquiries about bed bugs in the UK soared by 32 per cent in the first nine months of this year as concerns grow about an influx from France.
On a bumper day of corporate results, the FTSE 100 fell 1.2 per cent, or 88.47 points, to 7,499.53 and the FTSE 250 fell 1.1 per cent, or 190.32 points, to 17,213, 14, while the conflict in the Middle East clouded the outlook.
Mondi joined Rentokil in dragging down the blue-chip index after the paper and packaging company said demand remained “moderate” in the third quarter.
It made £227m profits in the three months to September 30, up from £392m in the same period last year. The shares fell 6.1 per cent, or 81 pence, to 1,252 pence.
Centamin’s gold production fell 21 percent to 101,370 ounces in the three months to the end of September.
That brought the miner’s production through the first nine months of 2022 to 321,931 ounces, putting it on track to hit the lower end of its range of 450,000 to 480,000 ounces this year. Its shares fell 2.6 per cent, or 2.25 pence, to 83.05 pence.
The London Stock Exchange Group did its best to lift spirits, reiterating that revenue, which rose 8 per cent to £1.97bn in the three months to the end of September, should grow at the top end from its 6 percent to 8 percent. cent range this year. It rose 1.9 per cent, or 152 pence, to 8,226 pence.
Original watch – Oxford Nanopore
Oxford Nanopore turned a profit following extensive investment and collaboration aimed at accelerating its entry into clinical markets.
The genetic sequencing company said Biomerieux, a global diagnostics company, had agreed to buy 29 million shares worth almost £70 million.
And it has joined forces with US healthcare provider Mayo Clinic to develop cancer tests and improve patient care.
The shares, which reached a high of 716p in 2021 before falling, rose 14.3 per cent, or 26.9p, to 215p.
Mike Ashley’s fashion empire increased its stake in Asos for the second time this week.
Frasers Group, whose brands include Sports Direct, Jack Wills and Flannels, now owns 23 per cent of the online retailer. Asos fell 2.9 per cent, or 11.8 pence, to 390.2 pence, while Frasers fell 1.6 per cent, or 13 pence, to 786 pence.
Dunelm’s first-quarter sales rose 9 per cent to £390m as customers spent money on their homes.
But the ongoing uncertainty around the economy flagged by the home goods retailer appeared to dampen sentiment, sending its share price down 0.9 per cent, or 9p, to 1,028p.
Hollywood Bowl rose 4.3 per cent, or 10p, to 243.5p as it cashed in on families flocking to bowling alleys to keep their children entertained during the wet summer holidays.
Revenue rose 11p per cent to £215m in the year to the end of September, beating the £201m expected by analysts.
McBride, which supplies cleaning and hygiene products to supermarkets, said the pressure on household finances had led customers to opt for own-brand products, meaning profits exceeded forecasts. The shares soared 22.2 per cent, or 7.25p, to 39.9p.
Data analytics company Relx said its revenue rose 8 per cent in the first nine months of 2023, but the shares fell 0.3 per cent, or 8 pence, to 2,880 pence.
Assets under management at Schroders fell to £724.3bn in the three months to September 30 from £726.1bn at the end of the previous quarter as investors became more nervous about the turmoil. in financial markets. The shares fell 2.6 per cent, or 10p, to 374.3p.
Man Group rose 0.4 per cent, or 0.9p, to 215.2p as its assets under management rose from £125m at the end of June to £132m on 30 September.
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