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Foodservice and hospitality company Compass scrapped its dividend for this fiscal year to conserve cash and said half-yearly revenue rose about 1.6%, in-line with guidance given last month with more than half of its businesses shuttered due to the Covid-19 pandemic.
The company said it would not recommend an interim or a final dividend for the year ending 30 September.
In the last two weeks of March, the business performed in line with the expectations set out in its trading update released on 17 March.
Organic revenue growth for the first half of the year was about 1.6%, within the 0%-to-2% expected range.
The drop through impact of lost revenues on half-yearly operating profit was between 28%-29%, within the anticipated range of 25%-30%.
'Currently around 55% of our business is closed due to country lock downs,' the company said