LONDON (dpa-AFX) - Compass Group Plc (CPG.L, CMPGF.PK), a British food services provider, reported Monday that its fiscal 2022 profit before tax surged to 1.47 billion pounds from last year's 464 million pounds.
Basic earnings per share were 62.6 pence, an increase of 213 percent from last year's 20 pence.
Underlying profit before tax was 1.49 billion pounds, compared to 698 million pounds a year ago. Basic underlying earnings per share were 63.0 pence, compared to 30.9 pence last year.
Revenue increased 42.5 percent to 25.5 billion pounds from 17.9 billion pounds a year ago. Organic revenue growth was 37.5 percent.
Further, Compass Group announced that annual dividend per share increased 125 percent to 31.5 pence from 14 pence a year ago.
The company also announced a further share buyback of up to 250 million pounds, to take place during the first half of the 2023 financial year, taking the total buyback to 750 million pounds.
Looking ahead for 2023, Compass Group expects underlying operating profit growth to be above 20 percent on a constant-currency basis, with organic revenue growth of around 15 percent, weighted towards the first half of the year.
Underlying operating margin is expected above 6.5 percent.
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