Compass Group H1 Profit Surges, Lifts FY22 Organic Revenue View, Backs Margin Forecast; Stock Up

Food service company Compass Group (CPG.L,CMPGF.PK) reported Wednesday that its first-half profit before tax surged to 632 million pounds from last year's 133 million pounds.

Earnings per share grew 377 percent to 26.7 pence from 5.6 pence a year ago.

Underlying earnings per share were 26.9 pence, compared to 9.5 pence last year.

Revenue grew 36.3 percent to 11.5 billion pounds from 8.4 billion pounds a year ago. Underlying revenue increased 37.9 percent.

Further, the company is commencing a share buyback program with up to 500 million pounds this calendar year.

Looking ahead for fiscal 2022, the company increased organic revenue guidance to around 30 percent from previously expected 20 percent to 25 percent.

The company's margin guidance remains unchanged. The company expects full-year underlying operating margin to be over 6 percent, exiting the year at around 7 percent.

In London, Compass Group shares were trading at 1,723 pence, up 9.22 percent.

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