Compass has reported organic revenue growth of 8.6% in a third quarter trading update, alongside 8.5% growth for the year to date. Within this, the FTSE 100-listed firm’s North America division delivered 9.6% growth during the three-month period that ended June 30, while its International segment reported a 6.6% rise in organic revenue. The contract caterer also upgraded its guidance for 2025 and now expects constant currency underlying operating profit growth of around 11%, driven by ongoing margin progression. Additionally, Compass announced its planned acquisition of food services business Vermaat Groep for an enterprise value of around 1.5 billion euros. In early morning trading, Compass Group shares added 4.3%.
British Gas owner Centrica has agreed to acquire a 15% equity stake in Sizewell C, a new 3.2 gigawatt nuclear power station under construction in Suffolk, England. Once operational, Sizewell C will generate electricity equivalent to around 7% of the UK's current demand. Centrica's investment comprises committed construction funding of £1.3 billion, and the firm will jointly own the power station alongside the UK government, which holds a 44.9% interest, La Caisse, with 20%, Electricity de France, which owns 12.5%, and Amber Infrastructure, which holds a 7.6% stake with the option to acquire a further 2.4% from the government. The Sizewell C project will cost a total of around £38 billion. In early trading, Centrica stock rose 4.3%.
Facilities manager Mitie Group highlighted strong momentum in a first quarter trading update, with double-digit growth in revenues over the period. The FTSE 250-listed firm said its revenues grew by 10.1% to £1.28 billion in the three months ended 30 June, including 8.0% organic growth driven by net wins and scope increases, project growth and pricing. The company notched up contract wins and extensions/renewals with a total value of £1.2 billion in the first quarter, including several notable new key accounts. Mitie also said it had a record £29.0 billion pipeline of bidding opportunities, up 22% over the period, and noted continued progress with margin enhancement initiatives. In early morning trading, Mitie shares were up 3.4%.
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Trading Update - - Yu Group (YU.)
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Unconditional Recommended Contractual Offer - - Anexo Group (ANX)
