REG - Compass Group PLC - REPORTING CURRENCY CHANGE: RE-PRESENTED ACCOUNTS

CompassAnnouncement

27/06/2023 11:00

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RNS Number : 0498E  Compass Group PLC  27 June 2023

 

 

Change in reporting currency- re-presented historical financials

( )

As announced with its half-year results in May, Compass Group PLC will change
its reporting currency from sterling to US dollars with effect from 1 October
2023.

The change in presentation currency will provide investors and other
stakeholders with greater transparency of the Group's performance and reduce
foreign exchange volatility on earnings given that approximately
three-quarters of the Group's underlying operating profit originates in US
dollars.

The Group's results for the year ending 30 September 2023 will be prepared
using sterling as the presentation currency, with certain financial
information provided separately in US dollars for information purposes. The
Group's results for the six months ending 31 March 2024, and all subsequent
financial periods, will be prepared using US dollars as the presentation
currency, with comparative information provided in US dollars.

Commencing with the interim dividend for the year ending 30 September 2024,
due to be paid in July 2024, all dividends will be declared in US dollars.
The Group's dividend policy, to pay out at around 50% of underlying earnings
through an interim and final dividend, remains unchanged. Shareholders will
continue to receive dividends in sterling in the normal way unless they have
elected through the Company's registrar to receive dividends in US dollars.
The sterling dividend will be announced not less than two weeks before the
payment date and will be translated using the average exchange rate for the
preceding five business days. Details of how to elect to receive US dollar
dividends will be issued in due course.

The Group's primary consolidated financial statements, together with selected
notes, for the six months ended 31 March 2023 and 31 March 2022 and the year
ended 30 September 2022 re-presented in US dollars are set out here for
comparative purposes

http://www.rns-pdf.londonstockexchange.com/rns/0498E_1-2023-6-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0498E_1-2023-6-27.pdf)

A presentation showing the Group's Alternative Performance Measures in US
dollars for each financial period from 2019 is available here

http://www.rns-pdf.londonstockexchange.com/rns/0498E_2-2023-6-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0498E_2-2023-6-27.pdf)

All materials are also available on the Company's website,
www.compass-group.com/en/investors (http://www.compass-group.com/en/investors)

END

Enquiries:

+44 (0)1932 573000

Investors/Analysts:  Agatha Donnelly, Helen Javanshiri & Simon Bielecki

Press: Giles Robinson

 

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