Food and support services company Compass Group Plc (CMPGF.PK, CPG.L) Tuesday said it had a good first half of the year and expectations for the full year remain positive and unchanged.
Organic revenue growth for the first half is expected to be towards 5 percent on a comparable working days basis, excluding the negative impact of the timing of Easter, which will reverse out in the second half.
Organic revenue has been driven by new business wins and high rates of retention. Contributions from acquisitions are expected to be largely offset by the impact of the disposal of the US Corrections business in March 2012.
The firm expects to deliver an increase in operating profit margin of around 15 basis points. Underlying trading has shown similar trends in first and second quarters.
North America delivered another excellent performance and the firm continued to achieve strong growth in Fast Growing & Emerging.
The economic backdrop remains challenging in Europe & Japan, but the company's operational improvement and cost reduction plan is on track and is making good progress.
Compass said it remains positive about the significant structural growth opportunities in food and support services globally and the potential for further revenue and margin growth.
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