Compass Group Plc announce an interim dividend of 25.5c per share, with an ex-dividend date of June 18 and a record date 19th June. Payment date will be July 30th.
Other financial highlights include:
Revenue growth 9%, balanced across both regions:
• Organic revenue up 7.2% with strong client retention at 96%
• New business wins of $4.1bn, 14% increase year on year, with half from first-time outsourcing
• Mobilised net new business growth 4.2% over last 12 months and 3.8% in H1; with expected acceleration in H2
Underlying operating profit increased by 12%:
• Underlying operating margin up 20bps to 7.4% benefiting from overhead leverage and M&A synergies
• Underlying earnings per share up 12% to 72.8c
• Underlying operating cash flow up 14% to $1,324m
Investing in competitive advantages, supporting long-term growth:
• Highly attractive structural growth opportunities with addressable market having grown at c.5% per annum
• Integration of Vermaat progressing well, further strengthening their European growth platform
• Acquired Pro Care Management in Germany for $270m; now operating Group Purchasing Organisations in five of their top ten markets
• Total M&A expenditure of $2.3bn alongside $0.8bn of capital expenditure (3.4% of revenue)
