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Investigation Details
Rentokil disclosed on September 11, 2024, that it expected full-year adjusted pretax profit of approximately £700 million, compared to £766 million in the previous year, citing weaker than expected sales in North America, the Company’s largest market. Rentokil also stated that it would cut an undisclosed number of jobs in its U.S. workforce to address cost overruns.
Following this news, Rentokil’s American depositary receipt (“ADR”) price fell over 21% on September 11, 2024.
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