Compass Group reports quarterly revenue growth, maintains guidance

(Alliance News) - Compass Group PLC on Tuesday reported strong organic growth in its financial ...

Alliance News 25 July, 2023 | 7:41AM
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(Alliance News) - Compass Group PLC on Tuesday reported strong organic growth in its financial third quarter and left its full-year guidance unchanged.

The Chertsey, Surrey-based firm said organic revenue growth was 15% in the three months to June 30, which includes 14% growth in North America, 17% in Europe and 20% for the rest of the world. Meanwhile, group organic revenue growth for the year-to-date was 21%.

Compass reiterated its annual guidance, expecting operating profit growth of 30% on a constant-currency basis, which is to be delivered through organic revenue growth of around 18% and an underlying operating margin in the range of 6.7% to 6.8%.

The company added it continues to focus on acquisitions, noting its net expenditure on acquisitions and disposals is currently GBP272 million.

Shares in Compass were down 3.9% at 2,042.48 pence each in London on Tuesday morning.

By Sabrina Penty, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Compass Group PLC 2,256.00 GBX 0.22

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