Compass Group PLC

CPG: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 4,991.00	Ywclst	Bmgkmzgr

Compass: Strong Start to 2024 and Guidance Points to Continuing Growth

Michael Field

Feb 8, 2024

Narrow-moat Compass Group delivered a solid first-quarter fiscal 2024 trading update. Organic revenue growth was up almost 12%, a strong performance. Clearly, growth is falling from the highs of 2022 and 2023, but from a very high base to a more realistic and manageable level. However, we do believe the story is now being fully appreciated by the market with the share price currently hovering around our GBX 2,250 fair value estimate.

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