Compass revenues increase 3.6% in half year results

Compass revenues increase 3.6% in half year results
11/05/2017 - 07:00
Compass Group has announced that revenue increased 3.6% to £11.6 billion and operating profit was up 5.2% to £894 million in the six months ended March 31st 2017.

Richard Cousins, group chief executive, said: “Compass had a good six months, with the business performing as expected. North America continues to deliver excellent growth and trends in Europe are improving.

“Our expectations for FY 2017 are positive and unchanged, with growth weighted to the second half. Our pipeline of new contracts is encouraging and our focus on organic growth, efficiencies and cash gives us confidence in achieving another year of delivery.

“In the longer term, we remain excited about the significant structural growth opportunities globally and the potential for further revenue growth, margin improvement, as well as continued returns to shareholders.”

In the UK, Compass reported that contracts are now mobilising after a slowdown in new business post-Brexit. New UK contract wins include Aston Villa FC. 

Compass also announced a £1 billion special dividend as part of its commitment to return surplus cash to shareholders. 

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