PHS eyes are on Rentokil
13 April 2012
WASHROOMS group PHS is hoping to clean up if Rentokil Initial sells off anything in its line. But it is not interested in parcels or conferencing, the two most likely divisions to be sold.
PHS boss Peter Cohen said: 'We are just going to sit back and wait.'
PHS trebled dividends to 1.7p after pre-tax profits for the year to March rose 21% to £43m on sales up 18% to £165m. Before acquisitions, sales were up 4%.
It has spent £129m on bolt-on buys since floating three years ago. The shares at 78 1/2p have barely changed since the float.
