Tuesday, September 29, 2009

UPDATE 3-Compass sees boost from fresh business, weak pound

* Sees full-year EPS growth of 14 percent

* Currency go s to add 120 mln pounds to operating profit

* Underlying full-year revenue to grow around 1 percent

* Shares 3 percent, hit 12-month high

(Adds analyst comment, updates shares)

By Rhys Jones

LONDON, Sept 29 (Reuters) - Compass Group Plc (CPG.L), the world's enormous gest caterer, sees 14 percent growth in yearly earnings per share on the back of fresh business wins, cost gash s and a weak pound, sfinish ing its shares to a 12-month high.

The British company, which feeds office and factory workers, sfeeble iers and schoolchildren, said it expected underlying sales to grow around 1 percent in the year to the finish of September. It said favourable currency go s would add around 120 million pounds ($191 million) to annual operating profit.

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

No comments:

Post a Comment