Compass Group PLC

Good morning and welcome to Compass Group Q3 Trading Update. Hosting today's call will be Dominic Blakemore, Rupchave Executive Officer. Following the opening remarks, you will have the opportunity to ask questions. In order to ask a question, please press star 1 on your telephone keypad. This call is being recorded. I will now turn the call over to Dominic Blakemore. Please go ahead. Thank you.

Thank you very much. Good morning, everyone. As usual, I'm here with Petros FCFO. We've had another strong quarter with all regions performing well. We're particularly pleased with the acceleration in net new business, which is now in the middle of our range, with improvements in retention to above 96%. We're also continuing to see a positive trend in volumes. Industry trends remain very positive, and we have an exciting pipeline of new business opportunities to support growth organically, and through strategic M&A. As a result of the stronger-than-expected top-line performance, we've upgraded guidance for the full year. We now expect underlying operating profit growth to be above 15%, driven by higher organic revenue growth of above 10%. Let's move now to Q&A.

Thank you. Ladies and gentlemen, as a reminder, if you would like to ask a question, please press star 1 on your telephone keypad. Thank you. We will now take our first question from Jamie Rollo of Melbourne Stanley. Your line is open. Please go ahead.