Compass Group PLC (CMPGF) Q2 2026 Earnings Call

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WEBVTT 00:00:01.465 -- 00:00:05.130 Good morning, everyone, and thank you for joining us today. 00:00:05.130 -- 00:00:07.694 Welcome to our half-year results. 00:00:07.694 -- 00:00:12.381 We've delivered another very strong half, with operating profit up by 12%. 00:00:12.381 -- 00:00:17.649 This performance reflects a powerful combination of good organic 00:00:17.649 -- 00:00:23.177 growth, continued margin expansion, and disciplined M&A. 00:00:23.177 -- 00:00:28.185 As a result, we're raising our guidance for the full year and now expect operating 00:00:28.185 -- 00:00:31.351 profit growth above 11%. 00:00:31.351 -- 00:00:37.120 The outsourcing market remains highly attractive, and our new business wins were excellent, 00:00:37.120 -- 00:00:40.125 increasing by 14% year-on-year 00:00:40.125 -- 00:00:43.187 to $4.1 billion. 00:00:43.731 -- 00:00:48.880 Over half of our wins came from first-time outsourcing, reflecting the strong structural 00:00:48.880 -- 00:00:54.068 growth opportunity across our markets, driven by the increasing complexity of client 00:00:54.068 -- 00:00:56.031 demands. 00:00:56.031 -- 00:01:00.577 Combined with our strong client retention, we have high confidence in our outlook for 00:01:00.577 -- 00:01:05.923 net new business growth, which we expect to accelerate in the second half. 00:01:05.923 -- 00:01:11.570 We continue to execute against our proven growth algorithm as we generate strong, 00:01:11.570 -- 00:01:14.691 long-term recurring revenues. 00:01:14.834 -- 00:01:18.999 We're delivering mid to high single-digit organic revenue growth. 00:01:18.999 -- 00:01:24.565 When you layer on ongoing margin progression and M&A, that continues to translate 00:01:24.565 -- 00:01:28.490 into high single-digit operating profit growth. 00:01:28.490 -- 00:...