Compass: shares up 4% after 'strong' full-year results
(CercleFinance.com) - Shares in Compass Group are currently up over 4% after the world's biggest caterer reported "strong" full-year results, with organic sales growth of 5.
5%, and a dividend that is up 12.5%.
The group's underlying operating profit rose to 1.74 billion pounds in the year ended 30 September, compared to 1.63 billion pounds a year ago, Compass said this morning.
Its revenue reached 23.2 billion pounds, up from 21.8 billion pounds in the previous year.
"Compass had another very strong year," said Group Chief Executive Dominic Blakemore. "Revenue growth was healthy, driven by excellent growth in North America, an acceleration in Europe and good progress in Rest of World," he added.
The annual dividend per share will jump to 37.7 pence, from 33.5 pence, the group said in its trading update on Tuesday.
"Compass remains the bellwether in the catering segment and our preferred play given its superior growth trajectory and the potential for future incremental shareholder returns," analysts at Berenberg commented.
They kept their "buy" rating on the stock, with a target price of 1,800 pence.
Investors seemed to agree with Berenberg's positive view, with its shares currently up 4.6% at 1,661 pence in early London trading this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5%, and a dividend that is up 12.5%.
The group's underlying operating profit rose to 1.74 billion pounds in the year ended 30 September, compared to 1.63 billion pounds a year ago, Compass said this morning.
Its revenue reached 23.2 billion pounds, up from 21.8 billion pounds in the previous year.
"Compass had another very strong year," said Group Chief Executive Dominic Blakemore. "Revenue growth was healthy, driven by excellent growth in North America, an acceleration in Europe and good progress in Rest of World," he added.
The annual dividend per share will jump to 37.7 pence, from 33.5 pence, the group said in its trading update on Tuesday.
"Compass remains the bellwether in the catering segment and our preferred play given its superior growth trajectory and the potential for future incremental shareholder returns," analysts at Berenberg commented.
They kept their "buy" rating on the stock, with a target price of 1,800 pence.
Investors seemed to agree with Berenberg's positive view, with its shares currently up 4.6% at 1,661 pence in early London trading this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.