11th May 2016 07:00
LONDON (Alliance News) - Compass Group PLC on Wednesday reported growth in profit in the first half of its financial year and said it has positive expectations for the full year.
The catering and support services business said pretax profit in the six months ended March 31 grew to GBP666 million from GBP621 million in the same period the year before, as revenue rose to GBP9.54 billion from GBP8.94 billion.
Compass Group said it achieved growth in each of the regions it operates in, comprising North America, Europe and rest of world.
Compass Group will pay an interim dividend of 10.6 pence, which is up 8.2% year-on-year.
"Our expectations for financial 2016 are positive and unchanged. Our pipeline of new contracts is encouraging and our focus on organic growth, efficiencies and cash gives us confidence in achieving another year of delivery," Chief Executive Richard Cousins said in a statement.
"In the longer term, we remain excited about the significant structural growth opportunities globally and the potential for further revenue growth, margin improvement, as well as continued returns to shareholders through dividends and ongoing share buybacks," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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