| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Compass sees 31% slip in revenue, but improved margins for H1
StockMarketWire.com
|
Food services group Compass said it expected to report a fall in organic revenue, but improved margins for the first of the year as the company continued to control costs and resize its business.
For the six months ending 31 March 2021, organic revenue was expected to to fall by 31% following a 33.7% fall in Q1 and 28% fall in Q2.
The group's operating margin was expected to increase by around 130bps from 2.7% in Q1 to about 4.0% in Q2, resulting in a half year margin of about 3.4%.
The stronger pound would negatively impact the 2020 half year revenue by £456 million and operating profit by £38 million, the company said.
Looking ahead, Compass said it would continue to manage costs, adapting its operations and resizing its business.
'We remain confident in our ability to rebuild our group underlying margin above 7%, before we return to pre-COVID volumes, it added.
H1 results were expected to be released on 12 May 2021.
At 8:12am: (LON:CPG) Compass Group PLC share price was 0p at 1373.5p
Story provided by StockMarketWire.com
|
|
|
|
|
|
