Surrey / UK. (cg) British Compass Group PLC announced its financial results for the six months ended 31 March (H1-2024). The company reports double-digit organic revenue growth across all regions. Group Chief Executive Dominic Blakemore: «The Group has delivered a strong set of results, with balanced double-digit organic revenue growth and good underlying operating margin progression across all regions, leading to underlying operating profit growth of 19 percent on a constant-currency basis.
«Europe is building a strong track record of growth, having benefited from investment and best practice sharing. We have completed the acquisitions of «Hofmanns» in Germany and CH+CO in the UK and Ireland, increasing operational flexibility as well as further strengthening our unique sectorised approach to the market.
«Our results are driving strong cash generation which in turn gives us the flexibility to invest capital back in the business through capex and strategic in-fill M+A, to support future growth through sectorisation and flexible operating models, both of which generate excellent returns.
«We have continued to refine our portfolio and increase focus on our core markets where we see significant growth opportunities. The Group has built strong competitive advantages over the past few decades which are being replicated across all our regions.
«As a result of our strong first-half performance and positive outlook, we are raising guidance for underlying operating profit growth to towards 15 percent for the full year. Beyond 2024, we expect to sustain mid to high single digit organic revenue growth, ongoing margin progression and profit growth ahead of revenue growth. We will continue to reinvest in the business to support future growth, with any surplus capital returned to shareholders, as we maintain our strong track record of delivering long-term, compounding shareholder returns.»
For additional information please read the company’s PDF file below (272 KB):
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