logo
  

Compass Group Q1 Group Organic Revenue Surges 38.6%

Compass Group plc (CPG.L,CMPGF.PK) reported a 38.6% growth in its first-quarter group organic revenue, with revenues reaching 97% of the company's pre-COVID level. The quarterly improvement was largely driven by new business, continued strong client retention along with some ongoing recovery in the base business.

The company further noted that performance improved across all regions with four out of five sectors now trading above 100% of 2019 revenues. Growth was particularly strong in North America in Sports & Leisure and Education.

In Europe, all sectors traded well except for Business & Industry which continues to be impacted by reopening delays, while The Rest of World region continued to benefit from a higher exposure to the more resilient Defence, Offshore & Remote sector.

Looking ahead, the company continues to expect full year organic revenue growth of 20% - 25%, with quarterly growth rates moderating through the year, reflecting more challenging comparatives.

Full-year underlying operating margin is still expected to be over 6%, returning to around 7% by the year end.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The US Centers for Disease Control and Prevention or CDC has ended recommendations for social distancing and quarantine with a view to minimize covid-19's impact on persons, communities, and health care systems. The agency also ended recommendation for test-to-stay in schools, CNN noted. Healthcare major Johnson & Johnson, which is in the middle of a talcum powder fiasco, said it is discontinuing talc-based JOHNSON'S Baby Powder globally in 2023. The company plans to transition to an all cornstarch-based baby powder portfolio. According to the company, the commercial decision to use cornstarch in all its baby powder products was made after conducting an assessment of its portfolio Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV.
RELATED NEWS
Follow RTT