British catering firm Compass said Wednesday that it would return £500 million ($815 million, 600 million euros) cash to shareholders, despite news of falling annual net earnings. Profits after taxation sank by almost a third to £429 million ($698 million, 514 million euros) in the 12 months to September, compared with £605 million in the previous 2011/2012 financial year, Compass said in a results statement. However, the world's biggest caterer by sales added that it would return £500 million to shareholders on the back of improving margins and revenues. Revenues grew 3.9 percent to £17.6 billion, aided by the company's US and emerging markets divisions. Pretax profit meanwhile fell 8.6 percent to £721 million. However, on an underlying basis stripping out impairments and other costs, pretax profit rallied 9.2 percent to £1.19 billion. Compass also hiked its full-year dividend to 24 pence from 21.3 pence last time around. The news sent the group's share price 3.62 percent higher to 960.075 pence on London's FTSE 100 index, which rose 0.19 percent to 6,636.22 points in late morning deals. "I'm delighted to report another successful year for Compass, with good levels of growth in organic revenue, margin and cash flow," said chairman Roy Gardner in the earnings release. Chief executive Richard Cousins added: "Economic conditions in Europe and Japan remain challenging, but the actions we've taken have enabled us to manage these and improve profit and margins."
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor