Royal Mail strikes boost Rentokil unit’s profits
Rentokil Initial

Rentokil's beleaguered City Link parcel delivery unit got a boost in profits owing to recent postal strikes.

As per rough estimates, Royal Mail strikes could benefit the City Link in the range of £1 to £2 million.

The Communication Workers' Union has resorted to a series of strikes in a row over pay and modernization of the department.

Alan Brown, CEO of the company, said, "The customers who switch into parcel-delivery services will switch back to Royal Mail later on, so it tends to be a pretty short-term benefit."

Alan Brown predicted that the company would return to profit during the last three months of the year.

The pest-control company, Rentokil, posted a rise of 3.2 per cent in its third- quarter revenue to £622.6 million.

Company pre-tax profit (before one-time items) soared to £49.6 million.

In the recent London trading, shares in Rentokil closed at 105p, down 6.3 per cent.

Latest News

Pinterest tweaks pins to provide more details on showcased items
South Australia’s first Apple Store to open at 10a.m. on Saturday
Samsung launches Galaxy S4 compatible TecTile 2 tags
Soaring gas prices surprise market watchers
Recon comes up with Google Glass-like product
Netflix and YouTube consume nearly half of US internet capacity: study
Google commemorates Atari Breakout’s 37th anniversary
New York AG wants leading mobile makers to help tackle problem of device theft
Amazon agrees to acquire Samsung's Liquavista business
Google all set to launch centralized gaming hub for Android: suggests leaked APK
Snapchat app stores users’ images
Verizon: Nokia Lumia 928 to be available from May 16