BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Compass Group Plc (CPG.L, CMPGF.PK) reported that its first-half profit before tax increased to 831 million pounds from 632 million pounds, last year. Earnings per share was 36.4 pence compared to 26.7 pence. Underlying operating profit was 1.05 billion pounds, up 41.1% on a constant-currency basis. On a constant currency basis, underlying basic earnings per share was 42.7 pence compared to 29.9 pence.
First half revenue increased to 15.7 billion pounds from 11.5 billion pounds, previous year. Underlying revenue was 15.8 billion pounds, up 24.7% on an organic basis.
For fiscal 2023, the Group now expects operating profit growth towards 30%, revised from prior guidance of above 20%. Organic revenue growth is now expected of around 18%, revised from prior guidance of around 15%.
The Group also announced a further share buyback of up to 750 million pounds in 2023, taking the total programme announced since May 2022 to 1.5 billion pounds.
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