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Here’s what we said on our blog:
Two years ago
Rentokil is falling from a great height - wishing it hadn’t started so high is not the same as finding the bottom.
One year ago
Rentokil has manfully struggled with a legacy of over-aggressive management and mature markets for five years now. The brokers reckon Rentokil will grow profits faster than Capita. We don’t (and we were right, see the data on the back page.)
Three months ago
A quarter of Rentokil’s value was gone in the morning following the release of their results. We have sympathy for Doug Flynn and respect for the scale of the task he’s undertaking.
The chart below tracks the decline and CEO stewardship. Doug Flynn has taken the wrap for the latest falls but you can see the decline started way before then. Doug left with chairman, Brian McGowan in March and is replaced by a trio of former ICI leaders led by Alan Brown. Let’s hope they do better.
Zoom chartTim Bennett is a Consultant at Credo.
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