Compass Group PLC Reports Profit And Revenue Gains In 6-Month Period

Compass Group PLC, which owns Canteen Vending Services Inc., reported profit in the first half of the year increased from last year, amid a rise in revenues.

For the six months ended March 31, pre-tax profit climbed to 581 million pounds from 528 million pounds. Profit attributable to equity holders of the company advanced to 427 million pounds from 384 million pounds. Earnings per share advanced to 22.4 pence from 20.2 pence. Revenues increased to 8.6 billion pounds from 7.9 billion pounds, driven by good levels of new business wins and high rate of retention.

The company increased the interim dividend by 11 percent.

The company said its expectations for the full year remain positive and unchanged. In the second half, the company expects that the difficult economic climate in Europe is likely to continue to put pressure on like for like revenue in that region. Richard Cousins, group chief executive, said in a prepared statement, "Compass has had a positive start to the year, delivering revenue growth of nearly 9 percent and organic growth of 5 percent. We have continued to see high levels of new business wins and retention across the group, with particularly good trading momentum in our North America and fast growing and emerging regions." 

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