Compass Group Lifts Dividend Despite Missed Profit Estimates
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Compass Group reported weaker-than-expected profit growth for fiscal 2023, but lifted its dividend payout.
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Revenue rose to £31.03 billion from £25.5 billion, but missed analysts' estimates of £31.2 billion.
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Underlying operating profit increased to £2.12 billion from £1.59 billion, in line with expectations.
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For fiscal 2024, Compass expects underlying operating profit growth of around 13% through high single-digit organic revenue growth.
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The company sees favorable market dynamics and growth opportunities with its less than 15% global market share.