Compass Group FY2017 Profit Bolstered by North America Business
November 21 2017 - 2:58AM
Dow Jones News
By Maryam Cockar
Compass Group PLC (CPG.LN) said Tuesday that pretax profit rose
18% in fiscal 2017, bolstered by its North America business and the
translational effect of weaker sterling.
For the financial year ended Sept. 30, the contract catering
company made a profit of 1.56 billion pounds ($2.07 billion)
compared with GBP1.32 billion the year earlier.
Revenue increased to GBP22.60 billion from GBP19.60 billion last
year.
The FTSE 100-listed company proposed an annual dividend of 33.50
pence, up 5.7% from 31.70 pence last year.
Outgoing Chief Executive Richard Cousins said that the company's
expectations for fiscal 2018 are positive, with growth and margin
improvement weighted to the second half of the year.
"In the longer term, we remain excited about the significant
structural growth opportunities globally and the potential for
further revenue growth, margin improvement, as well as continued
returns to shareholders," he said.
The company previously said that Mr. Cousins will step down at
the end of March 2018 and will be replaced by Europe Chief
Operating Officer Dominic Blakemore, who was appointed deputy CEO
in October for a six-month transitional period.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
November 21, 2017 02:43 ET (07:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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