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Compass Group PLC on Tuesday reported strong organic growth in its financial third quarter and left its full-year guidance unchanged. The Chertsey, Surrey-based firm said organic revenue growth was 15% in the three months to June 30, which includes 14% growth in North America, 17% in Europe and 20% for the rest of the world. Meanwhile, group organic revenue growth for the year-to-date was 21%. Compass reiterated its annual guidance, expecting operating profit growth of 30% on a constant-currency basis, which is to be delivered through organic revenue growth of around 18% and an underlying operating margin in the range of 6.7% to 6.8%. The company added it continues to focus on acquisitions, noting its net expenditure on acquisitions and disposals is currently £272 million. Shares in Compass were down 3.9% at 2,042.48 pence each in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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