Compass Group Upgrades Guidance After 1st Half Pretax Profit Rose, Plans GBP500 Million Buyback
11 Maio 2022 - 3:58AM
Dow Jones News
By Michael Susin
Compass Group PLC said Wednesday that it is upgrading its
guidance for fiscal 2022 after first-half pretax profit rose, and
that it plans a share buyback program.
The U.K. catering contractor said pretax profit for the six
months to March 31 was 632 million pounds ($778.4 million) compared
with GBP133 million for the same period the year before.
Underlying operating profit--which strips out exceptional and
other one-off items--rose to GBP673 million from GBP287 million,
with a margin of 5.5%.
Revenue increased to GBP11.5 billion from GBP8.44 billion.
Compass said it will start a share buyback program worth up to
GBP500 million this year.
The company said it has upgraded its FY 2022 guidance for
organic revenue growth to around 30% from a range of 20% to 25%,
while underlying operating margin guidance remains unchanged and is
expected to be above 6%.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 11, 2022 02:43 ET (06:43 GMT)
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