Compass Group sales struggle drags down shares

The price of shares in FTSE 100 food services firm Compass Group (LON:CPG) tumbled by 2.77% to 1,174.50p (as of 15:45 BST) after it reported a 36% organic drop in revenues for the final quarter of the year ending 30th September. This was an improvement over the prior quarter as people returned to schools and offices. Operating margins for the three months are expected to be close to break even before impairments.

Management said that they were pleased with the progress but were continuing to look to manage costs and rebuild margins. However, the pace of the firm’s financial recovery is uncertain and dependant on external conditions.