The catering company said the acceleration of containment measures adopted by governments and clients in Europe and North America, notably the closure of schools and cancellation of sports fixtures, had affected its expectations for the half year. Compass runs canteens around the world. This commitment is made in an effort to combat the negative environmental, social, and financial effects of food waste. Please remember yields are variable and not a reliable indicator of future income. This commitment is made in an effort to combat the negative environmental, social, … Lower revenue, coupled with the write-down in the value of some contracts, meant underlying operating profit was £561m (£1.9bn in 2019). This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Lease debt contributed £995m to net debt. Trading was especially restricted in Sports & Leisure businesses, and trends were weak in higher education and Business & Industry. Investments rise and fall in value so investors could make a loss. Higher costs and fewer customers results in serious pressure on margins. This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. Tuesday 17th March 2020, 12:25 London. Sign up to City A.M.’s Midday Update newsletter, delivered to your inbox every lunchtime. Elle exerce son activité dans 50 pays environ en 20151. But the extent and speed of the group's recovery remains uncertain. Rest of World reported a 7.9% drop in revenue to £2.4bn, and a 51.1% fall in operating profit to £94m. FTSE 100 rebounds following G7 coronavirus pledge, Coronavirus measures to have ‘devastating’ impact on UK hospitality sector, Get the news as it happens by following City A.M. on Twitter. investments are right for you, please request advice, for example from our, Sophie Lund-Yates, Equity Analyst Compass Group issues profits warning Global impact of coronavirus could see the world's largest foodservice business lose nearly quarter of a billion operating profit. the views of the author. Compass went into the crisis in relatively good shape, and in part thanks to the group's £2.0bn capital raise from shareholders earlier this year, that's still the case. Compass Group, the UK’s largest food and support services company, has confirmed that it will not be taking up Job Retention Bonuses for any of its employees. See all Reviews See All . Market closed | Prices delayed by at least 15 minutes | Switch to live prices. Share on Facebook; Share on Twitter; Share on WhatsApp; Share via Email ; Copy Link; Link Copied! Compass Group International B.V. Regulatory Statements; Compass Group Finance Netherlands B.V. May 2020 Placing Offer; 2021 Annual General Meeting; ESG and Sustainability > Our Strategy > Safety; Stakeholder Engagement ; Our Pillars > Health and Wellbeing; Environmental Game Changers; Better for the World > Responsible Sourcing > Animal Welfare wellbeing and our community we're News December 21, 2020. That strength is reflected in the valuation though. Blog December 10, 2020. Compass said measures to contain coronavirus in the Asia Pacific region did not materially impact the business. (Nicolas Tucat/AFP via Getty Images) Compass Group , the world’s biggest catering firm, on Tuesday became the latest major company to warn coronavirus will impact its business. 24 November 2020 |, Register for online News December 17, 2020. Job description Employment: Full Time Location: Dubai, UAE. Compass Group USA has committed to reducing 25% of its food waste by 2020. Additionally, Compass Group’s operating margin during the period increased 10 basis points. While the recovery remains rocky, both Compass and investors should continue to look to the balance sheet for resilience. Get the news as it happens by following City A.M. on Twitter. Friday 10th July 2020. Chaque jour nous proposons une restauration de qualité. 2-min read. En France, nous servons près de 210 millions de repas par an dans 2400 établissements. Europe was held back by its particular exposure to Business & Industry, Education and Sports & Leisure. Worried workers. It's hard not to be impressed by the cost mitigation efforts from a business perspective. 0. This article is not advice or a recommendation to buy, sell or hold any investment. To its credit, Compass has broken even on an underlying basis for the first time since the crisis began. Compass Group expects organic revenue growth to be between 0 and two per cent. The latest company news and updates on Compass Group, from the business journalists at Catering Today. Victory for Sussex University catering staff fighting against redundancies . What we do & where we do it. If you're not sure which Net debt is higher than we'd like at 2.1 times cash profits, but isn't yet at an unmanageable level, nor is Compass' access to significant liquidity really contingent on keeping debts down. Find out more about Compass Group shares including how to invest. Son effectif comprends plus de 10 000 salariés. Compass has set aside £300m for writedowns in 2019 and 2020. North America (which makes up 63.1% of group revenue) saw organic revenue fall 18.5%, to £12.7bn, reflecting very steep volume declines. As a result, operating profit will be £125m to £225m lower than expected. Keep in mind key figures shouldn't be looked at on their own - it's important to understand the big picture. Read more: FTSE 100 rebounds following G7 coronavirus pledge. Our website offers information about investing and saving, but not personal advice. Welcome to Compass Group UK & Ireland. On an organic basis (which excludes the effect of acquisitions and exchange rates), group revenue fell 18.8% to £20.2bn. 21,000 Compass staff are currently furloughed on the Coronavirus Job Retention Scheme, meaning the company could have benefitted from of £20 million from the new bonus. That reflects the proceeds from the equity raise, which offset lease costs. Continue reading. These estimates are not a reliable indicator of future performance. Admin & HR Assistant Job at Compass Ocean Logistics - Dubai . It has also re-evaluated its staffing levels, and redundancies will result in annual savings of £280m. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Refinitiv. But we're not in normal times. If anything, we suspect the crisis has forced Compass to make a lot of long overdue efficiency improvements. Découvrez Compass Group France, société de restauration collective, un des leader de la restauration collective sous contrat. Tuesday 25 August 2020; Share; ESS, which is part of the multi-million pound Compass Group, has been accused of using the Covid-19 pandemic to ‘steal’ the working weeks and cut the pay of outsourced workers on Ministry of Defence contracts. The shares rose 4.9% following the announcement. Contract retention remains in line with last year. Schools and universities need to stay open, and offices need enough hungry mouths inside them for contracts to tick over. Compass Group PLC agrees to acquire Fazer Food Services Compass Group PLC (LSE: CPG), a leading global food service company, today announces that it has signed an agreement with Fazer Group, an international family-owned FMCG and direct to consumer group, to acquire Fazer Food Services for an enterprise value of approximately €475 million. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. A second round of lockdown restrictions in much of Europe adds to this problem. Including the leases, net debt is equivalent to 2.1 times cash profits. Fri 17th Jul 2020, 16.51 . That reflects the impact of business closures because of Covid-19. I have never seen multinationals handling redundancies that badly. Compass Ocean Logistics - Dubai: Admin & HR Assistant Job at Compass Ocean Logistics - Dubai. COMPASS GROUP FRANCE, société par actions simplifiée est en activité depuis 57 ans. Newsroom articles are published by leading news by Expert • Wednesday, December 23, 2020. It has forced a number of so-called non-essential businesses to close. Revenue fell 24.0% to £5.0bn. usinesses cutting jobs has led to less demand in staff canteens, the boss of catering giant Compass said on Tuesday as warned of redundancies and a £300 million writedown. The rise of home working is hard for Compass to swallow Catering giant’s £2bn cash call heralds start of an uncertain era for food on the go, as employers and their staff rethink office life Investors should be mindful that the market is expecting a lot from Compass as the pressures of the pandemic ease. Compass went into the crisis in relatively good shape, and in part thanks to the group's £2.0bn capital raise from shareholders earlier this year, that's still the case. See reviews by: Popularity|Rating|Date|All. 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