Compass share price: Group updates on half-year performance
Compass Grouo (LON:CPG) today released its results for the six months ended March 31.
**Highlights from the company’s statement:**
Strong first half year with 5.7% organic revenue growth: Excellent performances in North America and emerging markets; Europe & Japan returned to growth; Healthy pipeline of new business across all regions
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Further efficiencies supporting investment and delivering margin progression: Operating profit margin increased by 10 basis points to 7.5%; MAP programme continuing to drive operating efficiencies across all geographies; Reinvesting for growth
Growth, performance & returns to shareholders: a proven & sustainable model; Earnings per share of 28.4 pence, up 12.3% on last year; Proposed interim dividend of 9.8 pence, 11.4% ahead of last year; Ongoing return of cash to shareholders
Richard Cousins, Group Chief Executive, said: “Compass had a strong first half of the year. We have delivered excellent levels of organic growth in North America and emerging markets. Encouragingly, Europe & Japan has returned to growth despite a mixed economic backdrop in the region.
We have also continued to deliver good levels of operating efficiencies, which have enabled us to invest in the many growth opportunities we see, as well as deliver an improvement in the operating margin of 10 basis points.
Our expectations for the full year remain positive and unchanged. However, the economic environment in some of our emerging markets is uncertain, and lower commodity prices are impacting our Offshore & Remote business. Nevertheless, our pipeline of new contracts is encouraging, and our continued focus on organic growth and efficiencies gives us confidence in achieving another year of delivery.
In the longer term, we remain excited about the significant structural growth opportunities globally and the potential for further revenue and margin growth, as well as continued returns to shareholders.”
**More to follow…**
As of 07:30 BST, Wednesday, 13 May, Compass Group plc share price is 1,163.00p.