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Everyone has a business plan built from the previous year, especially the operations folks. It's cascaded down through the organization and includes both top-line and bottom-line growth. The goal is to achieve low double-digit earnings per share growth. We're looking for revenue growth between 5% to 7% and bottom-line growth in the low double digits. This involves finding ways to improve on the cost and efficiency side and continuing to grow organically to ensure the right service levels. Coupled with acquisitions, this will enable top-line growth that feeds through the organization.
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Two large companies with different cultures and values, international headquarters across an ocean, and a company not fully operational with ServiceMaster made this a challenging integration. I'm just giving my opinion. What they paid for it was supposed to be made up in synergies. I've had many calls about Rentokil, and my approach is not about consolidating branches for cost savings. It's about having the right branches in the right geographic areas to grow the business locally.
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Rentokil decided to pursue consolidation, tested it, and had some results. Recently, they reversed course after three years and are considering more satellite branches and locations. Pest control, like many services, is a local business. A global company needs a local presence to drive business from an owner and consumer standpoint. Google searches and local addresses play a role.
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