Compass reports strong Q1 growth as revenues recover to pre-pandemic levels
Four out of five sectors are now trading above 100% of pre-pandemic 2019 revenues, the support services company said
Company
LON:CPG
Compass Group PLC is a market leader in providing food and a range of selected support services to customers in the workplace, in schools and colleges, in hospitals, at leisure or in remote environments
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Four out of five sectors are now trading above 100% of pre-pandemic 2019 revenues, the support services company said
Margins in the fourth quarter rose to 5.8% compared to 4.4% overall for the year
Builders and building materials
At the close, the UK blue-chip index was 11.23 points, or 0.2% firmer at 7,266.69, below the session peak of 7,293.07, but well above the day’s low of 7,204.37
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The UK's blue-chip benchmark finished ahead by almost 32 points, or 0.44%, at 7,255
"Radical new collaborations are urgently needed across the entire value chain to make it a reality."
Full-year revenues are expected to recover to 76% of 2019 levels
Builders and building materials
Among the smaller caps, there’s digital training specialist Learning Technologies and semiconductor IP specialist Alphawave IP Group, which floated in May
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The index of UK blue-chips in positive territory despite worse than expected public finances while Dow comes off best levels
Other updates and results are scheduled in the week from CVS, DFS, Fuller Smith & Turner, Investec, Saga, SIG
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The UK blue-chip index recorded triple-digit gains as fears of COVID variant subside
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Compass, Kingfisher, Croda, Smurfit Kappa and Weir Group all fit the bill for the broker
Revenue is expected to improve in the third quarter after a slide in the first half of the financial year
The group has been operating at about 71% of 2019 revenues in the first half of its current fiscal year, which runs to the end of September.
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Brent crude has fallen nearly 4.5% to $61.53 a barrel
Second-quarter revenues and volumes will be broadly in line with the first, but operating margins are expected to improve
The company said, "our hampers follow the DofE specifications" but said the image "falls short"
The bank said they believed the pandemic will “accelerate” the shift of wallet spending from “out-of-home to in-home triggered by [working from home]” which in turn will underpin further growth in employee benefits rather than in-office cat
“We are improving the quality of the business and will emerge from the pandemic stronger than we've ever been,” said boss Dominic Blakemore
Builders and building materials
FTSE 100 groups Compass Group and Pennon Group are also reporting
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Other firms in focus will be retailer Pets At Home as well as catering firm Compass and drinks maker Britvic