Compass Group Plc (LON: CPG) financials get severely impacted by COVID-19

 

Compass Group Plc (LON: CPG) has reported a severe impact of COVID-19 on the business from the late Q2, which led to the weak financial year.

  • The company reported a huge drop in operating profit of 69.7 per cent, while the profit before tax slumped by 75.5 per cent to £427 million.
  • The world’s biggest catering firm was compelled to shut about half of its operations during Covid-19 lockdowns.
  • However, the new business wins remained strong, and retention of the old were high during the year.
  • On 25 November 2020, the stocks of the company traded lower by 0.36% from its previous closing, hovering at around GBX 1,372.00 at 10:39 AM GMT+1.

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