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 2018

Industry: support services

2018 PERFORMANCE AT A GLANCE (extract)

Consistent performance

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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 Board 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 202 and 203. A summary of the adjustments from statutory to underlying results is shown on page 166 and further detailed in the consolidated income statement (page 108), reconciliation of free cash flow (page 113), note 1, segmental reporting (pages 122 to 125) and note 5, tax (pages 129 and 130).

AUDIT COMMITTEE REPORT (extract)

ACTIVITY DURING THE YEAR (extract)

The key matters reviewed and evaluated by the Audit Committee during the year are set out below:

FINANCIAL REPORTING

  • 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

BUSINESS REVIEW (extract)

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Further details of the adjustments can be found in the consolidated income statement, note 1 segmental reporting and note 32 statutory and underlying results.

 

 

 

 

 

 

 

 

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