Compass: share up as annual forecasts raised
(CercleFinance.com) - On Tuesday, Compass raised its targets for 2023/2024, after doing better than expected in Q3, to end-June.
The British contract catering giant this morning announced that it achieved organic growth of 10.3% in the quarter just ended, compared with analysts' consensus of around 10%.
The group states that all its regions continue to perform well, with business trends remaining solid in all sectors.
The British company - which owns the Eurest brand in France - now forecasts organic sales growth of over 10% for the full year, compared with a previous projection of around 10%.
Growth in operating margin before non-recurring items is now expected to exceed 15%, at constant exchange rates, rather than being close to 15%.
On the London Stock Exchange, the share was up by almost 5% mid-morning, which means that it can now post a gain of around 5% this year, since the share has been fairly flat YTD.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The British contract catering giant this morning announced that it achieved organic growth of 10.3% in the quarter just ended, compared with analysts' consensus of around 10%.
The group states that all its regions continue to perform well, with business trends remaining solid in all sectors.
The British company - which owns the Eurest brand in France - now forecasts organic sales growth of over 10% for the full year, compared with a previous projection of around 10%.
Growth in operating margin before non-recurring items is now expected to exceed 15%, at constant exchange rates, rather than being close to 15%.
On the London Stock Exchange, the share was up by almost 5% mid-morning, which means that it can now post a gain of around 5% this year, since the share has been fairly flat YTD.
Copyright (c) 2024 CercleFinance.com. All rights reserved.