Compass Group : Q3 trading update in line, but outlook for a slow recovery confirmed
>Q3 trading update in line with our expectations, £ 260m cash burn in Q3 - Yesterday Compass released its Q3 2019-2020 trading update which was in line with our expectations. The LFL drop in sales came to -44% (ODDO BHF estimate: -45%), helped by resilience in the Offshore & Remote segment in the rest of the world, whereas Europe was the hardest hit due to Compass’s heavy exposure to B&I there and lockdowns which were stricter in general. The EBIT margin came to 3.9% ...Compass Group is engaged in providing outsourced food and support services. The five sectors in which Co. operates are: Business & Industry, which provides food for employees during their working day; Healthcare & Seniors, which helps hospitals in the public and private sectors manage and enhance quality of food and support services; Education, which provides dining solutions from kindergarten to college; Sports & Leisure, which provides hospitality and service at sporting and leisure venues, exhibition centers, visitor attractions and events; and Defence, Offshore & Remote, which provides food and support services to companies in the oil and gas and mining and construction industries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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