This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Compass Group Expects 1H Revenue Growth Of 3 Pct

LONDON (AP) ¿ Compass Group PLC, the world's largest food service company, said Tuesday it expects revenue growth of 3 percent in the six months ending March 31, as the depreciation of the pound boosts the value of earnings in the United States and Europe.

The company said revenue was weaker in some of its services to business, industry, sports and leisure, while services to education, health facilities and remote sites performed well.

"We expect an overall favorable impact of around 70 million pounds ($100 million) on operating profit from the movement of our key currencies," the company said.

Compass said it expected revenue in North America to be up 4 percent or more, helped by new contracts with the University of Maryland, Baltimore County and Eastern Connecticut State University.

Continental European revenues are expected to be broadly flat compared to a year earlier, while revenue in Britain is forecast to be down 4 percent.

Compass shares were up 6.2 percent at 313.75 pence on the London Stock Exchange. The company will publish its half year results on May 13.

"In the current economic environment, volume and pricing increases will be more difficult but encouragingly, the level of new business wins in all sectors has remained strong," said Tony Shephard, analyst at Charles Stanley & Co.

He rated the shares a "buy."

___

On the Net: http://www.compass-group.com

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
CPG $26.07 2.10%
FB $77.78 0.28%
GOOG $523.31 -1.40%
TSLA $230.93 -0.87%
YHOO $41.54 0.58%

Markets

DOW 17,784.00 -144.20 -0.80%
S&P 500 2,075.91 -13.55 -0.65%
NASDAQ 4,906.0220 -33.3050 -0.67%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs