(Alliance News) - Compass Group PLC on Tuesday reported strong organic growth in its financial third quarter and left its full-year guidance unchanged.
The Chertsey, Surrey-based firm said organic revenue growth was 15% in the three months to June 30, which includes 14% growth in North America, 17% in Europe and 20% for the rest of the world. Meanwhile, group organic revenue growth for the year-to-date was 21%.
Compass reiterated its annual guidance, expecting operating profit growth of 30% on a constant-currency basis, which is to be delivered through organic revenue growth of around 18% and an underlying operating margin in the range of 6.7% to 6.8%.
The company added it continues to focus on acquisitions, noting its net expenditure on acquisitions and disposals is currently GBP272 million.
Shares in Compass were down 3.9% at 2,042.48 pence each in London on Tuesday morning.
By Sabrina Penty, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Compass Group (CPG)