Tuesday, September 29, 2009

UPDATE 2-Compass sees FY boosted by costs gash s, weak pound

* Sees FY EPS growth of 14 pct

* Currency go ments to add 120 mln stg to op profit

* Underlying FY revenues to grow by around 1 pct

* Shares up 2.9 pct by 0715 GMT

(Adds shares, more details)

By Rhys Jones

LONDON, Sep 29 (Reuters) - Compass (CPG.L), the world's enormous gest caterer, expects to grow full-year earnings per share by 14 percent as fresh business wins, cost gash s and a weak British pound aid ed maintain growth, sfinish ing its shares up.

The British company, which feeds office and factory workers, sfeeble iers and schoolchildren, on Tuesday said it expects underlying sales to grow by around 1 percent in the year to the finish of September and that favourable currency go s would add around 120 million pounds ($190.5 million) to annual operating profit.

Compass said contract wins with the likes of Google (GOOG.O) in Australia and Electrolux (ELUXb.ST) in Sweden would aid push full year margins up 60 basis points and that it expected demand to pick up in the coming months.  Continued...

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