Full Year 2022 Compass Group PLC Earnings Call Transcript
Good morning, and welcome to Compass Group's full year results call. Hosting today's call will be Dominic Blakemore, Group Chief Executive Officer. This call is being recorded. (Operator Instructions) I will now turn the call over to Dominic Blakemore. Please go ahead.
Thank you, Serge. Good morning, everyone. As usual, I'm with Palmer, our CFO. We're delighted by the group's performance, which surpassed our expectations. We've emerged from the pandemic as a stronger and more resilient business and reached the important milestone of revenue exceeding 2019 levels.
Organic revenue growth was 37.5%, benefiting from excellent net new business growth, which accelerated through the year to over 7% in the second half, as well strong like-for-like volume recovery and good levels of pricing. In Q4, group revenue was 116% of the 2019 level with B&I recovering particularly well at 106%. All sectors continue to trade strongly. And although we're conscious of the challenging macro environment, we
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