Positive first half year with good organic revenue growth
Organic revenue growth of 4.2%, driven by strong new business growth
Excellent performances in North America and Fast Growing & Emerging
Economic conditions and new business growth in Europe & Japan starting to improve
Healthy pipeline of new business across all regions
Further efficiencies enabling investment and delivering margin progression
Operating profit margin increased by 10 basis points to 7.4%
MAP programme continuing to drive operating efficiencies across all geographies
Reinvesting for growth
Growth, performance & returns to shareholders: a proven & sustainable model
£6 billion of announced returns to shareholders since 2006
Proposed interim dividend of 8.8 pence, 10% ahead of last year
Proposed capital return of £1 billion via a special dividend and ongoing £500 million share buyback
Longer term, Compass remains well placed to capitalise on exciting structural growth opportunities in all its markets
Richard Cousins, Group Chief Executive, said:
"This has been another period of consistent delivery for Compass. Organic revenue growth of over 4% has been driven by strong growth in North America and Fast Growing & Emerging. Encouragingly, economic conditions and new business in Europe & Japan are starting to improve. The operating efficiencies we've generated 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, taking it to 7.4%.
"Strong cash generation has underpinned our investment in the business and our commitment to reward shareholders. Based on the ongoing strength of our performance, the Board is proposing to increase the ordinary interim dividend by 10% to 8.8 pence per share and return a further £1 billion of cash to shareholders through a special dividend. Looking forward, the outsourcing proposition remains compelling and I'm positive about the opportunities for further revenue and margin progression."
