Compass downgraded by broker on impact of working-from-home on catering industry
“The share price assumes rapid recovery and consensus margin recovery assumptions look optimistic,” analysts said
Company
Compass Group PLC
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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"Eat out to help out" failed to arrest decline in hospitality sector's sales in the third quarter
A survey by The British Chambers of Commerce revealed that 66% of respondents in the hospitality and catering sector reported a fall in sales and bookings between June and the end of September
Compass Group back to breakeven but concerned about new lockdowns
The pace of further recovery in margins and revenues is unclear, it said
Compass Group gets boost as Barclays raises rating to ‘overweight’ from ‘equal-weight’
The global bank also hiked its target price for the FTSE 100-listed stock to 1,500p from 1,050p, with the shares currently trading at 1,317.50p
Compass appoints former Ferguson boss as chairman
Ian Meakins has been CEO of Travelex and Alliance Unichem and sat on the boards of Centrica and O2
Compass encouraged by June performance, quarterly revenue tans 44%
The education and business & industry sectors started to cautiously reopen, while sports & leisure remained fully shut
Compass makes history with fundraising and opens door for more smaller investors
The proposed placing will be the first ever accelerated share placing by a FTSE 100 company to include a retail offer
Compass Group in £2bn placing to weather coronavirus crisis
The contract caterer's revenues have fallen sharply since the start of March due to the impact of lockdowns across its markets
Compass Group closes half of its operations due to coronavirus pandemic
The catering giant is planning monthly cost savings of £450mln, with net debt as at March 31 totalling £4.9bn
Compass Group warns on profits over coronavirus closures
Operating profit for the six months to 31 March will be £125mln-£225mln, or 25-30% lower than expected
Compass' cost-saving programme offsetting flat European sales
The three months to 31 December saw organic revenue rising 5.3% driven by North America and the rest of the world, while Europe remained flat as anticipated
Compass Group chairman hands in notice
Paul Walsh will remain as chairman until a successor is appointed, with his intention to stay no longer than the 2021 annual shareholder meeting
Compass numbers point to flat returns, says Liberum
The broker downgraded its recommendation for the FTSE 100 catering giant to 'hold' on the back of the latest results
Compass profits undercooked as its moves to counter European slowdown
Annual revenue swelled 6.4% to £25.2bn, which was better than the company’s targeted range of 4% to 6%
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FTSE 100 closes a touch higher; sterling stays weak on election fears
By the close, the UK blue chip index was up 6.85 points, or 0.1% at 7,403.14
Compass hopes to serve up tasty results on Tuesday
Accompanying the world's biggest caterer will be results from Topps Tiles and video game developer Codemasters
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FTSE 100 closes in red Thursday as ECB update underwhelms
There were mixed messages in Mario Draghi's update on Thursday
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e-therapeutics jumps as share overhang created by Woodford’s need to liquidate assets further cleared
A look at some of the biggest risers and fallers in London on Thursday