ESMA Guidelines for APMs, paras 35, 36, IFRS figures given equal prominence to APMs

[Note: ‘ESMA Guidelines for APMs’ refers to the ‘Guidelines on Alternative Performance Measures’ published in June 2015 by the European Securities and Markets Authority (ESMA)]

Compass Group PLC – Annual report – 30 September 2019

Industry: support services

Consistent performance



Throughout the Strategic Report, and consistent with prior years, underlying and other alternative performance measures are used to describe the Group’s performance. These are not recognised under IFRS or other generally accepted accounting principles (GAAP). The Executive Committee of the Group manages and assesses the performance of the business on these measures and believes they are more representative of ongoing trading, facilitate meaningful year on year comparisons and hence provide more useful information to shareholders. Underlying and other alternative performance measures are defined in the glossary of terms on pages 246 and 247. A summary of the adjustments from statutory to underlying results is shown in note 34 on page 208 and further detailed in the consolidated income statement (page 138), reconciliation of free cash flow (page 143), note 2 segmental reporting (pages 161 to 164) and note 35 organic revenue and organic profit (page 210).

  1. Restated upon adoption of IFRS 15.


  1. The scope and methodology of our reporting has changed this year; therefore data is not comparable on a like for like basis. For more information about our disclosure on global GHG emissions for the financial year ended 30 September 2019, see page 60.

The key matters reviewed and evaluated by the Committee during the year are set out below:
Financial reporting and significant accounting issues
– the appropriateness of the interim and annual financial statements (including the announcements thereof to the London Stock Exchange) with both management and the external auditor, including: at the Board’s request, whether the Annual Report and Accounts, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the Company’s position and performance, business model and strategy
– the clarity of disclosures and compliance with financial reporting standards and relevant financial and governance reporting requirements and guidelines, including the European Securities and Markets Authority Guidelines on Alternative Performance Measures


1. Definitions of underlying measures of performance can be found in the glossary on pages 246 and 247.
2. Reconciliation between the different growth rates is provided in note 35.
3. Prior year comparatives have been restated upon adoption of IFRS 15.

Further details of the adjustments can be found in the consolidated income statement, note 2 segmental reporting and note 34 statutory and underlying results.