Compass Group reports strong fiscal results for the second half of 2021

Compass Group PLC, the UK parent company of Compass Group North America, the largest contract management company in the US, reported a 6.3% organic decline in revenue for its 2021 fiscal year compared to full year 2020. This total included gains of 36.4% and 32.9% in the third and fourth quarters, respectively, covering the months of April to September 2021 (fiscal year ended September 30) after sharp declines of 33.7 % and 26.8% in the first and second quarters from October 2020 to March 2021. period of fiscal year 2020.

For the North American unit, full-year organic revenue declined 6.7%, with revenue standing at around 76% of 2019 revenue, although the fourth quarter was about 90%. Among individual markets in North America, the Healthcare / Senior Living unit posted the best performance, posting a gain of 1%, while Education fell by about 13%, Sports / Recreation fell by about 8% and Business & Industry experienced a 30% drop. The company claims that senior health / life and sports / recreation also saw double-digit growth in new business and retention rates still high at 96.4%. “Of the 10 new companies winning in terms of value, eight came from a first subcontracting”, he added.

The Sports & Leisure activity also performed well in the second half of the year, benefiting from better attendance, in particular outdoor sporting events, with high spending per capita, while Education recorded good reopening figures after summer vacation and high spending on campus. Business and industry, which prioritizes corporate (i.e. white-collar establishments), continued to be heavily impacted by the pandemic with a slow recovery and a gradual return to offices.

For the group as a whole, covering global operations, Santé / Senior Living recorded organic revenue growth of 6.9% over the year, posting gains over the four quarters, while as the Defense / Offshore / Remote unit, which is only a minor part of operations in North America, but accounts for almost half of the activity outside of North America and Europe – increased by 8.3%. In addition, Education (-3.7%), Sports / Leisure (-6.7%) and Business / Industry (-21%) all experienced organic declines over the year, but all three experienced strong growth. in the third and fourth quarters, led by Sports / Loisirs, which increased by 412.6% and 334.6% respectively in the third and fourth quarters.

The company said it expects fiscal 2022 revenue growth of between 20 and 25 percent.


Source link

Comments are closed.