AGM and Q1 Trading Update

Compass Group PLC, a global leader in food services, today announces trading results for the first quarter ended 31 December 2024. The statement is being issued ahead of the Company’s Annual General Meeting which will be held at 12 noon today at Allianz Stadium (formerly Twickenham Stadium.)

Strong start to the year – continued growth momentum

The Group delivered strong organic revenue growth of 9.2% in the first quarter.  All regions and sectors performed well, with positive outsourcing trends continuing to underpin our growth momentum.  Organic growth drivers were in line with our expectations, with net new business supported by strong client retention, and pricing and volumes trending as anticipated.  

We continue to invest in attractive growth opportunities which further enhance our sectorisation and capabilities to unlock new market opportunities.

The Group’s expenditure on M&A for the year to date is c.$1.0bn, the majority relating to Dupont Restauration (France) and 4Service (Norway), which completed in January, alongside the disposals of our operations in Chile and Kazakhstan.

Currency

If current spot rates were to continue for the remainder of the year, foreign exchange translation would negatively impact 2024 revenue by $558 million² and operating profit by $36 million².

Summary and guidance

We are pleased with the strong start to the year. The Group delivered good growth across all regions and sectors, supported by continued strong client retention.

We are an even more focused business and are leveraging investments in capex and M&A to support future growth, as we maintain our strong track record of delivering long-term, compounding shareholder returns.

Our 2025 guidance remains unchanged.  We expect to deliver high single digit underlying operating profit growth³ with organic revenue growth above 7.5% and ongoing margin progression.  

¹ Year on year change.

² Based on spot rates as of 31st January 2025 

³ On a constant-currency basis, including announced acquisitions, disposals and exits in 2024 and to date in 2025.