Compass: annual forecasts raised, share price rises

(CercleFinance.com) - On Tuesday, Compass raised its targets for the 2023/2024 financial year, after doing better than expected in its third fiscal quarter, which ended at the end of June.


The British contract catering giant announced this morning that it had achieved organic growth of 10.3% in the quarter just ended, compared with analysts' consensus of around 10%.

In its press release, 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 relatively stable since January 1

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