Compass Group FY22 Profit Surges, Lifts Dividend; Sees Underlying Growth In FY23

Compass Group Plc (CPG.L,CMPGF.PK), a British food services provider, reported Monday that its fiscal 2022 profit before tax surged to 1.47 billion pounds from last year's 464 million pounds.

Basic earnings per share were 62.6 pence, an increase of 213 percent from last year's 20 pence.

Underlying profit before tax was 1.49 billion pounds, compared to 698 million pounds a year ago. Basic underlying earnings per share were 63.0 pence, compared to 30.9 pence last year.

Revenue increased 42.5 percent to 25.5 billion pounds from 17.9 billion pounds a year ago. Organic revenue growth was 37.5 percent.

Further, Compass Group announced that annual dividend per share increased 125 percent to 31.5 pence from 14 pence a year ago.

The company also announced a further share buyback of up to 250 million pounds, to take place during the first half of the 2023 financial year, taking the total buyback to 750 million pounds.

Looking ahead for 2023, Compass Group expects underlying operating profit growth to be above 20 percent on a constant-currency basis, with organic revenue growth of around 15 percent, weighted towards the first half of the year.

Underlying operating margin is expected above 6.5 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Health insurer Humana Inc. reported Wednesday a net loss for the fourth quarter that slightly widened from last year, hurt primarily by charges associated with productivity initiatives, despite 6.6 percent revenue growth. Adjusted earnings for the quarter topped analysts' expectations, while quarterly revenues missed it by a whisker. South Plainfield, New Jersey-based Two Rivers Coffee is recalling its peanut butter single serve hot chocolate pods citing an undeclared peanut allergen, the U.S. Food Drug Administration said. The recall involves peanut butter single serve hot chocolate pods distributed as "Brooklyn Bean Peanut Butter Cup Hot Cocoa", "Pingo Peanut Butter Cookie Hot Chocolate" and ... Shares of Novartis AG were losing around 2 percent in the early morning trading in Switzerland after the drug major reported Wednesday sharply lower profit in its fourth quarter with weak sales as well as the absence of prior year's hefty Roche income. Adjusted earnings, however, topped market estimates, while top line missed their view. Further, the company announced higher dividend...
Follow RTT