Catering firm Compass lifts profit forecast after strong first half
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
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Source: Yahoo Finance
- Compass Group's Financial Performance:
- Raised its 2024 profit forecast after reporting first-half earnings slightly above market expectations.
- Expects volume growth to moderate post six-month boost from workers returning to offices and sports events.
- Organic revenue for the year expected to grow towards 10%, higher than analyst expectations of about 9.2%.
- Expects mid to high single-digit organic revenue growth beyond 2024, along with margin progression and profit growth ahead of revenue growth.
- Plans to exit Brazil following departures from other countries in the past six months.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
