Rentokil issues 4th profit warning
Rentokil Initial said on Friday issued a profit warning, saying its full year profits would likely be £115 million, £35 million lower than previously anticipated.
Schroders 35% profit rise in 2007The firm said that it was reducing its profits expectation due to difficult trading conditions. The firm has issued four profit warnings now since the end of last year.
Rentokil said that its restructuring programme was taking longer then expected to implement.
Alan Brown, chief executive of the company said, "We continue to experience operational problems in a number of our businesses, virtually all of which originate from poorly executed restructuring or acquisition integration programmes initiated between 2005 and 2007."
He continued, "We expect these problems to continue for at least the remainder of the year."
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