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CMPGY Compass Group PLC (PK)

28.14
0.19 (0.68%)
31 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Compass Group PLC (PK) USOTC:CMPGY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.19 0.68% 28.14 28.00 28.21 28.30 27.79 28.30 76,572 21:00:13

Compass Group Upgrades Guidance After 1st Half Pretax Profit Rose, Plans GBP500 Million Buyback

11/05/2022 7:58am

Dow Jones News


Compass (PK) (USOTC:CMPGY)
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From Jun 2021 to Jun 2024

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By Michael Susin

 

Compass Group PLC said Wednesday that it is upgrading its guidance for fiscal 2022 after first-half pretax profit rose, and that it plans a share buyback program.

The U.K. catering contractor said pretax profit for the six months to March 31 was 632 million pounds ($778.4 million) compared with GBP133 million for the same period the year before.

Underlying operating profit--which strips out exceptional and other one-off items--rose to GBP673 million from GBP287 million, with a margin of 5.5%.

Revenue increased to GBP11.5 billion from GBP8.44 billion.

Compass said it will start a share buyback program worth up to GBP500 million this year.

The company said it has upgraded its FY 2022 guidance for organic revenue growth to around 30% from a range of 20% to 25%, while underlying operating margin guidance remains unchanged and is expected to be above 6%.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

May 11, 2022 02:43 ET (06:43 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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