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UK Businesses For SaleRentokil Initial Moots a Sale of City Link
29/02/2008
Rentokil Initial, the services group, received its second profits warning in the space of two months, sending its shares down by more than a fifth.
In December last year, the company announced that its parcel delivery business, City Link, had been experiencing difficulties. This week Rentokil admitted that the problems ran deeper and profits for 2008 would struggle to match that of last year's. The latest profits warning led to calls for the break-up of the company, whose other services include pest control, tropical plants, cleaning and security. Mike Murphy, a Panmure analyst, commented that the recent profits warning signifies the end of Rentokil as a group of services. The company is now ready to sell, he added. Apart from City Link, the services conglomerate said other operations had been performing well. Rentokil have reported sales up 20% to £2.2bn and an increase in pre-tax profits of just over 1% to £211m. 
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07 Oct 2008
GuestInvest, the buy to let hotel investment group which has gone into administration, is in talks w...[more]
06 Oct 2008
The chief executive of Blacks Leisure, Neil Gillis, said he was looking at "all options" following a...[more]
02 Oct 2008
Miss Sixty, the fashion label, was placed into administration this week after falling victim to the ...[more]
01 Oct 2008
AIG, American insurer, is going to sell its 50% stake in London City airport to its partner, Global ...[more]
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