Listing shares in London typically attaches a cheaper price tag to a company, no matter how much money it makes overseas. The FTSE 100 constituent Compass Group has bucked the trend, gaining a higher valuation than its international rivals.
A strong bounceback from the depths of the pandemic indicates why the catering giant, which now generates the bulk of its revenue in North America, deserves credit.
Organic revenue growth this year is expected to come in at 18 per cent, above the 15 per cent that Dominic Blakemore, chief executive, guided towards a few months ago. The underlying operating margin is also set to be fatter, at between 6.7 and 6.8 per cent, up from 6.5 per cent.
What does that reflect? Work lost in
