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Compass: stock down, despite making profit.

(CercleFinance.com) - The Compass Group stock is currently down 3.
7% in London, after the catering services group published its annual results, even though underlying profit was up 5.7% at 72.3 pence per share.

Again in underlying terms, the group's operating margin rose by 20 basis points to 7.4%, with revenues that are up 4% at 22.9 billion pounds, driven by organic growth of 7.1% in North America.

The group is deleveraging quickly and the outlook for the year 2018 remains positive, albeit with better performance in the second half, Liberum says; the broker nevertheless maintains its "buy" rating on the stock, with a target price of 1,850 pence.

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