StockMarketWire.com - Compass said it expected growth within the midpoint of its guidance and reported that revenue rose 5.3% in the three months through December last year, led by performance in its North American business.

'We have had an encouraging start to the year and our outlook for 2020 remains unchanged with organic growth around the mid-point of our 4%-to-6% guidance range whilst maintaining our strong margin,' the company said.

For the three months to 31 December 2019, organic revenue in North America increased by 7.5%, with particularly 'strong' growth in business & industry, healthcare and education, it added.

In Europe, as anticipated, organic revenue was flat year on year and organic revenue in rest of world increased by 4.7% supported by 'good' levels of growth in Australia and LATAM.

Following a rise in the pound, Compass said that if current spot rates were to continue for the remainder of the year, foreign exchange translation would negatively impact 2019 revenue by £745m and operating profit by £61m.




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