Compass Group Posts Rise In Pretax Profit

Compass Group PLC

reported an increase in its pretax profit during the year ended Sept. 30. The company's pretax profit surged to 1.15 billion pounds ($1.8 billion), versus a year-ago profit of GBP721 million. Excluding items, pretax profit was 1.157 billion pounds last year. Its earnings per share gained to 48.9 pence from 23.4 pence. Its revenue dropped 2.8% to GBP17.06 billion versus GBP17.56 billion. However, organic revenue growth of 4.1% in the year, while like for like revenue growth was 2.1%. Compass Group proposed a 10.5% rise in its full year dividend to 26.5 pence. Group chief executive Richard Cousins said: "Compass has had another good year, with strong growth in North America and Fast Growing & Emerging and further improvement in Europe & Japan. This, combined with our ongoing focus on efficiencies, has enabled us to continue to improve margins.” Compass Group shares gained 1.08% to close at $16.84 yesterday.