Compass Group's full-year guidance unchanged after first half earnings gain

13th May 2015 07:14

Catering company Compass Group said its full-year guidance remains "positive and unchanged" as it reported an increase in first half earnings.The business posted a 4.9% rise in pre-tax profit to £637m in the six months to the end of March, as revenue jumped 5.7% to £9.1bn, driven by strong performances in North America and emerging markets. Earnings per share climbed 12.3% to 28.4p.Results were also supported by a return to growth in Europe and Japan, along with new business across all regions, Compass said."Our expectations for the full year remain positive and unchanged," said chief executive Richard Cousins. "However, the economic environment in some of our emerging markets is uncertain, and lower commodity prices are impacting our Offshore & Remote business. Nevertheless, our pipeline of new contracts is encouraging, and our continued focus on organic growth and efficiencies gives us confidence in achieving another year of delivery."The group proposed an interim dividend of 9.8 pence, up 11.4% on the previous year.