CPG Compass Group Plc

   By Adria Calatayud 
 

Compass Group PLC (CPG.LN) said Tuesday that fiscal 2018 pretax profit fell 2.6%, but that its expectations for the current year are positive.

Pretax profit for the year ended Sept. 30 was 1.52 billion pounds ($1.95 billion) compared with GBP1.56 billion a year before, the U.K. catering contractor said. Net profit for fiscal 2018 declined 3.1% on year to GBP1.13 billion.

Full-year revenue increased 1.8% to GBP22.96 billion from GBP22.57 billion in fiscal 2017, Compass said. Organic revenue climbed 5.5% in fiscal 2018, driven by strong growth in North America, where organic revenue was up 7.8%.

The company had guided for fiscal 2018 organic growth above the middle of the 4%-6% range and for modest margin progression.

Operating margin stood at 7.4% in fiscal 2018, flat compared with a year before, Compass said.

The board raised its final dividend to 25.4 pence a share from 22.3 pence in fiscal 2017.

The company said its outlook for fiscal 2019 is positive, as it expects organic growth to be in the middle of its 4% to 6% range with modest margin progression.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

November 20, 2018 02:36 ET (07:36 GMT)

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