May 19, 2020 / 07:00AM GMT
Dominic Blakemore - Compass Group PLC - Group Chief Executive & Director
Thank you very much, and good morning. I'm joined this morning by Karen Witts, our CFO. Before opening the call to questions, I'd like to say a few words on the results and the placing.
We came into this pandemic on the back of our strongest performance in many years. As you know, we grew 6% organically over the past 2 years, and we were growing at 6% organically with 10 basis points of margin progression in the first 5 months of this financial year. But the crisis is placing significant pressure on the business. And during the course of April, we have around 50% of our revenue suspended. The outlook remains uncertain, both in terms of the length of the lockdown measures and what the relaxation of those containment measures, the impact it may have on our business as well as on the economy thereafter.
We've acted quickly and decisively to put the business on the very best possible footing by reducing costs by GBP 500 million per month, protecting cash by reducing CapEx, pausing M&A and suspending the dividend
Half Year 2020 Compass Group PLC Earnings Call Transcript
May 19, 2020
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