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Compass Group Posts Rise In Pretax Profit

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Compass Group PLC (OTC: CMPGY) 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.

 

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Posted-In: profitEarnings News