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Prices & Quotes - UK Markets - Compass Group (CPG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 1,588.50p
Change Today:
15.00p
Market Cap:
28,338m
Sector:
Travel & Leisure

Compass apologises for school meals fiasco at AGM

By Sean Farrell

Date: Thursday 04 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Compass told shareholders it was sorry for substandard free school meal packages as the catering group said revenue fell by a third in the first quarter with no pickup expected in the second quarter.

In a statement to its annual general meeting the FTSE 100 company repeated its apology for the poor state of free school meal parcels provided by its Chartwells business. The meagre packages, some of which included half a tomato, caused uproar in January and prompted Marcus Rashford, the footballer and campaigner, to brand them unacceptable.

"After conducting a thorough investigation, we have taken several corrective measures that include improved supply chain processes, additional guidance and resources for our employees, and stronger quality assurance checks," Compass said. "We have apologised to everyone who has been affected."

The catering group said organic revenue dropped 33.7% in the three months to the end of December and that this was in line with its expectations. The decline was slightly less than in the preceding quarter and the operating margin strengthened to 2.7% from 0.6% after Compass cut costs and renegotiated contracts.



Compass said second-quarter revenue and volumes would be broadly in line with the first quarter but that the operating margin would improve again by 50-100 basis points. The group's shares rose 3.4% to 13.95 at 08:19 GMT.

The company said it had a strong pipeline of new business including first-time outsourcing and share gains in sectors such as healthcare and senior citizens, education and defence.







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Compass Group Market Data

Currency UK Pounds
Price 1,588.50p
Change Today 15.00p
52 Week High 1,607.00p
52 Week Low 1,050.50p
Volume 2,078,580
Shares Issued 1,783.93m
Market Cap 28,338m
Beta 0.05

Performance Indicators

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What The Brokers Say

Strong Buy 7
Buy 1
Neutral 12
Sell 1
Strong Sell 2
Total 23
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Compass Group Dividends

  Latest Previous
  Final Interim
Ex-Div 16-Jan-20 20-Jun-19
Paid 24-Feb-20 29-Jul-19
Amount 26.90p 13.10p

Trades for 16-Apr-2021

Time Volume / Share Price
17:02 3,000 @ 1,588.49p
16:45 234 @ 1,586.50p
16:45 234 @ 1,586.50p
16:35 870,625 @ 1,588.50p
16:29 74 @ 1,585.00p

Compass Group Key Personnel

CEO Dominic Blakemore
CFO Karen Witts