Compass Group: Upgrades estimates for the year 2022

Compass Group PLC announced that it is upgrading its estimates for the year 2022, as the pre-tax profits for the first half of the year increased, and stressed that it is planning a stock purchase program.

The British company catering announced that the pre-tax profits for the six months to March 31, amounted to 632 million pounds (778.4 million dollars) compared to 133 million pounds a year ago.

Underlying operating profit rose to 3 673 million from 7 287 million, with a margin of 5.5%.

Revenue rose to 11 11.5bn from 44 8.44bn.

Compass has said it will launch a 500 500m treasury plan this year.

The company stressed that it has upgraded estimates for the increase in organic revenue in the year 2022 to about 30% from 20% -25%, while the underlying operating margin remains unchanged and is expected to exceed 6%.

Source: Capital

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