Compass: profit-taking after Q1 trading update

(CercleFinance.com) - Compass fell back slightly on the London Stock Exchange on Thursday, the victim of profit-taking following the publication of solid sales figures for the quarter to end-December, i.
e. Q1 2024/2025.

At around 10:30am, the share price of the world's leading contract caterer was down 0.9%, while the FTSE 100 index was up 1.3% at the same time.

This morning, the British group reported organic sales growth of 9.2% for the past quarter, ahead of the consensus target of 8.8%.

In detail, organic growth in North America reached 9.7%, in Europe 8.4% and in the rest of the world 7.9%.

Compass stated that it benefited from the signing of new contracts, the retention of existing customers and favorable trends in volumes and prices.

This business update comes as the group is due to hold its annual general meeting today at the Allianz Stadium, the former Twickenham stadium.

The group also confirmed its forecasts for FY 2024/2025, still expecting organic growth of between 5% and 9% in operating income before non-recurring items, accompanied by organic sales growth of at least 7.5%.

Howrver, the share price has risen by almost 5% since the start of the year in anticipation of this publication, leading to some profit-taking this morning (albeit only slightly).


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