Compass Group PLC (LSE:CPG) has hiked its dividend following a surge in profit over the course of the year.
Revenue jumped 10.6% to US$42.2 billion (£33.6 billion), aiding a 16.4% increase in operating profit to just under US$3 billion, the food services firm said on Tuesday.
A final dividend of 39.1 cents was declared on the back of the results, taking the total for the year to 59.8 cents and up 13.7% on 2023.
“2024 has been a year of strong operational and financial performance, with net new business growth accelerating in the second half as expected,” chief executive Dominic Blakemore said.
He added the company had exited, or agreed to leave, nine non-core regions over the year, in a bid to renew focus on markets with better growth opportunities.
Revenue in North America ticked up 10.9% to US$28.6 and by 15% across Europe to US$9.9 billion, but fell elsewhere by 3.7% to US$3.7 billion.
“In 2025, we expect high single-digit underlying operating profit growth, driven by organic revenue growth above 7.5% and ongoing margin progression,” Blakemore added.