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.