Compass Group Expects Q4 Revenue Performance To Improve To About 86% Of 2019 Revenues

Compass Group (CPG.L,CMPGF.PK), on Tuesday, said it expects Group's revenue performance in the fourth quarter to improve to about 86% of 2019 revenues, slightly ahead of its guidance of 80% - 85%. For the full year 2021, the company sees revenue to be about 76% of 2019.

The company attributed the outperformance to Sports & Leisure with improved attendance and strong per capita spend. The company's Healthcare and Defence, Offshore & Remote sectors have been resilient throughout the pandemic and continued to trade above 100% of 2019 revenues during the period.

Further, the company projects Q4 underlying operating margin to be around the mid-point of the guidance range of 5.5% - 6.0% as it continues to manage mobilisation costs and inflation whilst adapting its operations according to clients' changing requirements. For the full year 2021, the company's underlying operating margin is expected to be about 4.4%.

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