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Compass Group (CPG)

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tjh290633
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Re: Compass Group (CPG)

#343907

Postby tjh290633 » September 30th, 2020, 11:46 am

I have just looked at my records for Compass. I see that last bought some in 2006, at 227p.

Since then I have had various events, trimmed when overweight twice in 2008, at 348p and 388p respectively, trimmed again in 2009 at 292p, received a special dividend with a consolidation in 2014 at 1064p, trimmed again in 2016 at 1218p, had another special dividend and consolidation in 2016 at 1607p, and finally trimmed in 2019 at 2032p.

That's given me an IRR of 12.75%, despite the falls recently. I think it is one to hold for recovery.

TJH

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Re: Compass Group (CPG)

#344139

Postby Bouleversee » October 1st, 2020, 10:06 am

Tempus in The Times has an article on Compass today ("Caterer shows an appetite for survival") and concludes that it is a hold because "Compass remains a class act with top management and will emerge strongly from the pandemic". So that's what I will do, like TJH, and hope for the best.

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Re: Compass Group (CPG)

#344150

Postby absolutezero » October 1st, 2020, 10:57 am

I take the other side.
If I'm running an income portfolio (which I am) and a share isn't providing an income (of any kind at all, no matter how small) and it shows no sign of doing so, then it has no place in the portfolio.

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Re: Compass Group (CPG)

#344173

Postby Bouleversee » October 1st, 2020, 12:02 pm

Horses for courses. This not being the HYP board I can say that I'd rather have no dividend and an increased or maintained capital value than a reduced dividend and a loss of half my capital, as with BP. Compass have only skipped one dividend so far and the one paid early this year was pretty good. As TJH said, they have returned cash by other means without creating a capital loss so I'll stick with them for the time being. Yes, Dealtn, I did go for total return but all previous strategy is thrown out of the window now we have the ravages of Covid. Fortunately, some of my shares still produced a pretty good sum last month but the future is still very uncertain and I have a large number of shares showing large losses which is rather depressing at my time of life. Oh well, look on the bright side and think of the IHT reduction.

TheMotorcycleBoy
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Re: Compass Group (CPG)

#344699

Postby TheMotorcycleBoy » October 2nd, 2020, 8:39 pm

The trend ain't their friend. Certainly not for works canteens. I've been WFH for 7 months now, and that's set to continue, probably forever.

The big firms realised several months ago that they can save masses by radically altering the way the desk bound work.

The writing has been on the wall for years. It took a pandemic for it to finally happen.

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Re: Compass Group (CPG)

#359501

Postby idpickering » November 24th, 2020, 7:16 am

Full year results announcement for the year ended 30 September 2020.

Here; https://www.investegate.co.uk/compass-g ... 00022373G/

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Re: Compass Group (CPG)

#359607

Postby Bouleversee » November 24th, 2020, 12:11 pm

They sound quite optimistic and s.p. is up over 6% today a.t.m. Happy to hold.

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Re: Compass Group (CPG)

#359993

Postby absolutezero » November 25th, 2020, 4:06 pm

I'm the opposite. I'm happy to have got rid. :lol:

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Re: Compass Group (CPG)

#360000

Postby Bouleversee » November 25th, 2020, 4:17 pm

You may well be right; only time will tell.

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Re: Compass Group (CPG)

#398855

Postby idpickering » March 25th, 2021, 11:03 am

Pre-Close Trading Update

This statement updates investors on the Group's performance since 4 February 2021,
ahead of the Half Year results announcement on 12 May 2021 for the six months ending
31 March 2021.

Continued good margin improvement whilst volumes remain subdued

The Group's organic revenue for the three months to 31 March 2021 is expected to be
c. (28)% as we begin to lap the COVID-19 impact on our last year's revenues. Organic revenues for the six months are expected to be c. (31)%. In both Q2 and HY 2021, we have been operating at c. 71% of our 2019 revenues.

The Group's operating margin is expected to increase by around 130bps from 2.7% in Q1 to c. 4.0% in Q2, resulting in a half year margin of c. 3.4%, despite similar volumes quarter on quarter.


https://www.investegate.co.uk/compass-g ... 00053967T/

idpickering
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Re: Compass Group (CPG)

#411230

Postby idpickering » May 12th, 2021, 7:09 am

Half Year Results Announcement

Performance summary

• Q2 operating margin at 4. 2 %, 20bps ahead of our pre close trading update and an increase of 150bps from Q1

• Restored more than half of our pre COVID margin during Q2, despite volumes being 72% of 2019 revenue

• Continued strong retention of 95.6%

• New business wins increased by about 20%1 with first time outsourcing now accounting for around 50%, up from a third historically

• Strong underlying free cashflow of £359m driven by efficient working capital management

• Gross capex was 3.4% of underlying revenue as we continue to invest in growth opportunities

• Peak net debt to EBITDA ratio of 3.0 times


https://www.investegate.co.uk/compass-g ... 00032928Y/

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Re: Compass Group (CPG)

#431107

Postby idpickering » July 29th, 2021, 8:19 am

Trading Statement

The Group's third quarter organic revenue grew by 36.4%, lapping the first full quarter of COVID-impacted revenues. As anticipated, revenues in B&I and Education improved gradually whilst the more defensive sectors of Healthcare & Seniors and Defence, Offshore & Remote continued to grow. Our Sports & Leisure business benefitted significantly from higher attendance levels following an easing of restrictions in North America.

The "flight to trust" continued, leading to strong new business wins across all regions, with around 50% of new wins coming from first time outsourcing. Year to date, the retention rate remained strong at 95.4%.

The Group's operating margin increased by 80bps from 4.2% in Q2 to 5.0% in Q3 as we continued to manage our costs, resize our business, and adapt our operations.


https://www.investegate.co.uk/compass-g ... 00078258G/

idpickering
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Re: Compass Group (CPG)

#460224

Postby idpickering » November 23rd, 2021, 7:11 am

Full Year Results announcement

Performance summary

• Underlying revenue recovered to 88% of 2019 revenue by Q4. FY underlying revenue 77% of 2019

• Underlying margin improved to 5.8% in Q4. FY underlying margin of 4.5%

• Strong FY operating cash flow of £1 billion whilst maintaining gross capex at 3.6% of underlying revenue. Reduced leverage r atio to 1.6x

• Reinstating the dividend with a payout policy of c.50% of underlying earnings

Operational highlights

• Healthcare & Senior Living and Defence, Offshore & Remote sectors performed well above pre-pandemic volumes, with strong recovery in Education and Sports & Leisure by Q4

• Record new business wins of £2.1 billion, with around half from first time outsourcing and client retention of 95.4%

• Announced a global commitment to deliver net zero by 2050, including validated Science Based Targets to 2030


And later this;

It is proposed that a final dividend of 14.0 pence per share be paid on 28 February 2022 to shareholders on the register on 21 January 2022. No interim dividend was paid and no dividends were paid in respect of the prior year. The dividend is covered 2.1 times on an underlying earnings basis.

The final dividend of 14.0 pence will be paid gross and a Dividend Reinvestment Plan (DRIP) will be available. The last date for receipt of elections for the DRIP will be 7 February 2022.


https://www.investegate.co.uk/compass-g ... 00061842T/

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Re: Compass Group (CPG)

#478258

Postby bluedonkey » February 3rd, 2022, 12:07 pm


idpickering
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Re: Compass Group (CPG)

#499750

Postby idpickering » May 11th, 2022, 7:14 am

2022 Half Year Results 11 May 2022.

Half year performance summary

• Q2 underlying revenue at 99% of 2019 revenues with run rate now above our pre-COVID level2

• Organic growth of 37.9% driven by strong performance in North America and Europe

• Excellent net new business growth, total in HY 2022 exceeds entire FY 2021 net new business

• Operating margin of 5.8%, an increase of 240bps on HY 2021

• Leverage further reduced to 1.3x net debt/EBITDA, back within our target range

• Commencing a share buyback programme with up to £500m this calendar year


DIVIDENDS;


The interim dividend of 9.4 pence per share (2021: nil), £168m in aggregate1, is payable on 28 July 2022 to shareholders on the register at the close of business on 10 June 2022. The dividend was approved by the Board after the balance sheet date and, therefore, it has not been reflected as a liability in the interim financial statements.


https://www.compass-group.com/content/d ... dasset.pdf

RNS here; https://www.investegate.co.uk/compass-g ... 00030198L/

Ian.

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Re: Compass Group (CPG)

#502868

Postby idpickering » May 26th, 2022, 7:33 am

Share Buyback Programme.

Further to the half year results announcement made on 11 May 2022, Compass Group PLC (the "Company") announces that on 25 May 2022 it entered into a non-discretionary agreement with Merrill Lynch International ("MLI") in relation to the purchase by MLI, acting as riskless principal, of the Company's ordinary shares of 11 1/20 pence each ("Ordinary Shares") for an aggregate purchase price of up to £500 million (the "Programme").

Ordinary Shares acquired by MLI under this agreement will be on-sold by MLI to the Company.

The Programme will commence on 26 May 2022 and end no later than 28 September 2022. The purpose of the Programme is to reduce the share capital of the Company by returning surplus capital to shareholders. MLI will make its trading decisions in relation to the Company's Ordinary Shares independently of, and uninfluenced by, the Company. Any purchase of Ordinary Shares by the Company contemplated by this announcement will be carried out on the London Stock Exchange.


https://www.investegate.co.uk/compass-g ... 00088502M/

Ian.

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Re: Compass Group (CPG)

#503025

Postby Bouleversee » May 26th, 2022, 5:34 pm

idpickering wrote:Share Buyback Programme.

Further to the half year results announcement made on 11 May 2022, Compass Group PLC (the "Company") announces that on 25 May 2022 it entered into a non-discretionary agreement with Merrill Lynch International ("MLI") in relation to the purchase by MLI, acting as riskless principal, of the Company's ordinary shares of 11 1/20 pence each ("Ordinary Shares") for an aggregate purchase price of up to £500 million (the "Programme").

Ordinary Shares acquired by MLI under this agreement will be on-sold by MLI to the Company.

The Programme will commence on 26 May 2022 and end no later than 28 September 2022. The purpose of the Programme is to reduce the share capital of the Company by returning surplus capital to shareholders. MLI will make its trading decisions in relation to the Company's Ordinary Shares independently of, and uninfluenced by, the Company. Any purchase of Ordinary Shares by the Company contemplated by this announcement will be carried out on the London Stock Exchange.


https://www.investegate.co.uk/compass-g ... 00088502M/

Ian.

Grandma is finding it very difficult to get her head round this. Anyone? Still trying to see how T&L paying me a special dividend on which I shall be taxed whilst reducing the number of shares I own, is of benefit to me either. Why should I pay tax if it is returning my capital to me? Why call it a dividend? It doesn't seem to have done anything for the share price so what was the point, especially as I will have to pay charges and tax to reinvest the money?

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Re: Compass Group (CPG)

#503038

Postby monabri » May 26th, 2022, 6:16 pm

Bouleversee wrote:
idpickering wrote:Share Buyback Programme.

Further to the half year results announcement made on 11 May 2022, Compass Group PLC (the "Company") announces that on 25 May 2022 it entered into a non-discretionary agreement with Merrill Lynch International ("MLI") in relation to the purchase by MLI, acting as riskless principal, of the Company's ordinary shares of 11 1/20 pence each ("Ordinary Shares") for an aggregate purchase price of up to £500 million (the "Programme").

Ordinary Shares acquired by MLI under this agreement will be on-sold by MLI to the Company.

The Programme will commence on 26 May 2022 and end no later than 28 September 2022. The purpose of the Programme is to reduce the share capital of the Company by returning surplus capital to shareholders. MLI will make its trading decisions in relation to the Company's Ordinary Shares independently of, and uninfluenced by, the Company. Any purchase of Ordinary Shares by the Company contemplated by this announcement will be carried out on the London Stock Exchange.


https://www.investegate.co.uk/compass-g ... 00088502M/

Ian.

Grandma is finding it very difficult to get her head round this. Anyone? Still trying to see how T&L paying me a special dividend on which I shall be taxed whilst reducing the number of shares I own, is of benefit to me either. Why should I pay tax if it is returning my capital to me? Why call it a dividend? It doesn't seem to have done anything for the share price so what was the point, especially as I will have to pay charges and tax to reinvest the money?


Looks like Compass are simply buying and cancelling shares making your shares ( hopefully) worth a bit more. Roughly, it looks like they're buying back 1.5% of the available shares. Looking at the dividends, is this so called "surplus" arising from previous (3 unpaid) dividends? Shareholders might have desired a divi.

https://www.dividenddata.co.uk/dividend ... y?epic=CPG


As for Tate & Lyle..I don't know ( don't own and no interest ) but surely the share consolidation has been discussed on one of the boards?

idpickering
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Re: Compass Group (CPG)

#530255

Postby idpickering » September 16th, 2022, 3:43 pm

EXTENSION OF DURATION OF SHARE BUYBACK PROGRAMME.

On 26 May 2022, Compass Group PLC (the "Company") announced that it had entered into a non-discretionary agreement with Merrill Lynch International ("MLI") in relation to the purchase by MLI, acting as riskless principal, of the Company's ordinary shares of 11 1/20 pence each for an aggregate purchase price of up to £500 million (the "Programme").

The Company now confirms that it has extended the duration of that Programme to 16 November 2022 to ensure sufficient time to complete the Programme ahead of the Company's full year results announcement on 21 November 2022.

The Programme will otherwise continue to be conducted within the parameters set out in the announcement on 26 May 2022 (including the aggregate purchase price of up to £500 million).


https://www.investegate.co.uk/compass-g ... 30048038Z/

Ian.

idpickering
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Re: Compass Group (CPG)

#548340

Postby idpickering » November 21st, 2022, 7:36 am

Full year results announcement for the year ended 30 September 2022.

Performance highlights

• Strong organic revenue growth of 37.5%. In Q4 2022, Group was at 116% of 2019 revenues with Business & Industry at 106%

• Underlying operating margin improved by 170bps year on year to 6.2%, with H2 2022 at 6.5%

• Excellent net new business of 7.5% (5.7% rebased to 2019, above historical rate of 3%)

• Client retention rate up by 100bps year on year to a new record of 96.4%

• New business wins increased to £2.5bn4, with strong contributions from North America and Europe

• First-time outsourcing market remains buoyant, accounting for c.45% of new business wins

• Investing in the business: Capex 2.7% of underlying revenue and net M&A expenditure of £268m

• Leverage of 1.3x net debt/EBITDA, within our target range of 1x-1.5x

And later;

DIVIDENDS

A final dividend in respect of 2022 of 22.1p per share, £389m in aggregate1, has been proposed, giving a total dividend in respect of 2022 of 31.5p per share (2021: 14.0p per share). The proposed final dividend is subject to approval by shareholders at the Annual General Meeting to be held on 9 February 2023 and has not been included as a liability in these financial statements.

It is proposed that a final dividend of 22.1p per share (2021: 14.0p per share), £389m in aggregate, be paid on 2 March 2023 to shareholders on the register on 20 January 2023. This will result in a total dividend for the year of 31.5p per share (2021: 14.0p per share), £557m in aggregate (2021: £250m). The dividend is covered 2.0 times on an underlying earnings basis.

The final dividend of 22.1p will be paid gross and a Dividend Reinvestment Plan (DRIP) will be available. The last date for receipt of elections for the DRIP will be 9 February 2023.


https://www.investegate.co.uk/compass-g ... 00099944G/

Ian.


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