Dividend back at Compass — fish and chips the top COP26 seller

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ATERING giant Compass said today that it is now coming back from Covid as sporting events and company conferences are back.

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That has restored the dividend to 14p, welcome news for investors, though it’s still a lot shy of the pre-pandemic 40p.

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Chief executive Dominic Blakemore believes companies large and small will be more inclined to outsource food to employees. “It is increasingly complex to manage health and safety issues,” he said. “We know how to do that.”

Revenue declined 6% to £18 billion in September, while profits rose 55% to £811 million.

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Compass catered to COP26, just a few of the six billion meals served a year. Fish and chips was the most popular food at Green Summit – 40% of the food served was plant-based.

While WFH sales may be down, Blakemore says when employees go to offices, they spend more time there and eat more meals. He notes that customers are often funding free meal programs to encourage employees to return.

While the hospitality sector is facing a staff crunch, Compass says it has hired 1,000 people last month.

Compass employs 500,000 in 45 countries. Shares rose 36p to 1508p today.

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