Last checked at 27 Jun 2023 11:00
Change in reporting currency- re-presented historical financials
As announced with its half-year results in May, Compass Group PLC will change its reporting currency from sterling to US dollars with effect from 1 October 2023.
The change in presentation currency will provide investors and other stakeholders with greater transparency of the Group's performance and reduce foreign exchange volatility on earnings given that approximately three-quarters of the Group's underlying operating profit originates in US dollars.
The Group's results for the year ending 30 September 2023 will be prepared using sterling as the presentation currency, with certain financial information provided separately in US dollars for information purposes. The Group's results for the six months ending 31 March 2024, and all subsequent financial periods, will be prepared using US dollars as the presentation currency, with comparative information provided in US dollars.
Commencing with the interim dividend for the year ending 30 September 2024, due to be paid in July 2024, all dividends will be declared in US dollars. The Group's dividend policy, to pay out at around 50% of underlying earnings through an interim and final dividend, remains unchanged. Shareholders will continue to receive dividends in sterling in the normal way unless they have elected through the Company's registrar to receive dividends in US dollars. The sterling dividend will be announced not less than two weeks before the payment date and will be translated using the average exchange rate for the preceding five business days. Details of how to elect to receive US dollar dividends will be issued in due course.
The Group's primary consolidated financial statements, together with selected notes, for the six months ended 31 March 2023 and 31 March 2022 and the year ended 30 September 2022 re-presented in US dollars are set out here for comparative purposes
http://www.rns-pdf.londonstockexchange.com/rns/0498E_1-2023-6-27.pdf
A presentation showing the Group's Alternative Performance Measures in US dollars for each financial period from 2019 is available here
http://www.rns-pdf.londonstockexchange.com/rns/0498E_2-2023-6-27.pdf
All materials are also available on the Company's website, www.compass-group.com/en/investors
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Enquiries:
+44 (0)1932 573000
Investors/Analysts: Agatha Donnelly, Helen Javanshiri & Simon Bielecki
Press: Giles Robinson