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

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Share Price:
Up 1,625.00p
Change Today:
51.50p
Market Cap:
28,990m
Sector:
Travel & Leisure

Compass profitability improves as volumes stay subdued

By Sean Farrell

Date: Thursday 25 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Compass Group said profitability improved in the second quarter while volumes stayed subdued because of the Covid-19 crisis.
The world's biggest contract caterer's organic revenue fell 28% in the three months to the end of March from a year earlier compared with a 33.7% drop the previous quarter. In both the first and the second quarter organic revenue was 71% of 2019 levels, Compass said in a trading update.

Revenue fell less sharply in the second quarter as it began to lap the Covid-19 impact on the previous year's income. Operating margin is expected to strengthen to about 4% in the second quarter from 2.7% in the first quarter and the company said it expected the underlying margin to exceed 7% before volumes recover.

The FTSE 100 company's business has been hammered during the pandemic as corporate clients have cut spending with many offices, schools and other sites closed or operating with few people. The biggest impact in the second quarter was a 69% income drop in the sports and leisure sector followed by a 41% decline in business and industry.

Compass also said it was affected by the pound's rise against other currencies. If current exchange rates continue until the end of March revenue would be reduced by 456m and operating profit by 38m in the first half.

"While the vaccination efforts around the globe are advancing, the pace of volume recovery remains uncertain. Encouragingly, the pipeline of new business and client retention continue to be strong," Compass said.

"We are controlling the controllable by managing our costs, adapting our operations and resizing our business. We remain confident in our ability to rebuild our group underlying margin above 7%, before we return to pre-Covid volumes."

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Compass Group Market Data

Currency UK Pounds
Price 1,625.00p
Change Today 51.50p
52 Week High 1,625.00p
52 Week Low 1,050.50p
Volume 2,626,294
Shares Issued 1,783.99m
Market Cap 28,990m
Beta 0.02

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 1
Neutral 12
Sell 1
Strong Sell 2
Total 24
buy
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 07-May-2021

Time Volume / Share Price
16:55 257,677 @ 1,620.38p
16:45 298 @ 1,620.50p
16:45 298 @ 1,620.50p
16:36 1 @ 1,625.00p
16:36 2 @ 1,625.00p

Compass Group Key Personnel

CEO Dominic Blakemore
CFO Karen Witts