CORRECTED-Rentokil Initial eyes more acquisitions after profit rise

viernes 2 de mayo de 2014 08:52 GYT
 

(Corrects services provided in second paragraph; also adds missing words "to" and "it")

* Q1 adjusted op profit up 7.6 pct at 38.8 mln stg

* Pretax profit up underlying 21.7 pct at 19.3 mln

* Co says focused about where it wants to do deals

* Shares up 2.4 percent

By Li-mei Hoang

LONDON, May 2 (Reuters) - UK services firm Rentokil Initial Plc is looking for more companies to buy as part of a strategy to beef up its presence in markets such as the United States and Brazil, after posting a 7.6 percent rise in operating profit in the first quarter.

The company, which offers services from pest control to work wear supply, said it was on track to generate a significant improvement in free cash flow for the remainder of the year after trimming 10 million pounds ($16.9 million) off its restructuring and operational costs.

Chief Executive Andy Ransom, who took over in October, said he would look for companies to buy in Rentokil's key markets such as the United States, Australia, Britain and Latin America.   Continuación...