Provides contract food, catering and support services to a wide range of commercial businesses and government departments operating in over 50 countries. I have a holding in my income portfolio (epic code: CPG).
Compass Group issued a pre-close trading statement for their year ending 30 September 2014. For the full year, organic revenue growth at constant currency is
expected to be 4% and the operating profit margin is expected to increase by 10
bps.
Organic revenue growth and margin improvement by territory is expected to be:
North America - +6.5%; +5bps
Europe & Japan - -1.5%; 20bps
Fast Growing & Emerging - +8%; flat
Management state that Compass has had a good year, delivering organic revenue growth and
further margin progression. Their expectations for the full year remain
positive and unchanged, notwithstanding the translation impact of ongoing
movements in foreign currencies.
In line with expectations, so I expect the SP to claw back some of the softness seen in the past 3 months as the price drifted by 14% to 953p. It's up 2.5% today to 985p.
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