Dow Jones Newswires: Compass pretax profit falls, while organic growth rises above target

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Compass Group PLC on Tuesday reported a 3.3% fall in pretax profit for fiscal 2019 and said that it delivered full-year growth of 6.4%, ahead of its target range of 4%-6%.

The FTSE-100 support-services company CPG, -5.67%  said its expectations for the next financial year are positive, although it remains cautious about the macro environment in Europe.

The company made a pretax profit of 1.47 billion pounds ($1.89 billion) for the year ended Sept. 30, compared with GBP1.52 billion a year earlier.

Operating profit decreased to GBP1.60 billion from GBP1.70 billion, it said.

Revenue rose to GBP24.88 billion from GBP22.89 billion last year, and earnings per share decreased to 69.9 pence from 71.0 pence.

The board declared a final dividend of 26.9 pence, up from 25.4 pence last year, taking the total payout to 40.0 pence from 37.7 pence.

Compass is one of 26 current FTSE 100 members to have increased their annual dividend distribution every year for the last decade and its streak of increases dates back to 2001, AJ Bell said.

“Compass has had another strong year. Organic revenue growth was 6.4%, ahead of our target range, thanks to excellent growth in North America and an improving performance in the rest of the world”, Chief Executive Dominic Blakemore said.

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