The world’s biggest catering group launched the largest equity-raising of the coronavirus pandemic so far yesterday.
Compass Group said that the £2 billion fundraising, which features a retail offer for small investors, would increase its total liquidity to £5 billion and would secure its short-term position, giving it a platform to rebuild for the long term.
Reporting results for the half-year to the end of March, Compass said that the first five months had been a continuation of last year’s strong performance, but after that Covid-19 had “changed everything”.
Dominic Blakemore, 50, chief executive, said that he was withdrawing the company’s 2020 growth and margin outlook. “The duration of the pandemic and the pace at which containment measures are relaxed in different countries is unknown,
