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.


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