Investor Alert

May 15, 2013, 4:30 a.m. EDT

Compass first-half dividend up 11% to 8 pence

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By MarketWatch

LONDON--Compass Group PLC Wednesday reported a pretax profit of 575 million pounds for the first half, down 1% from the same period last year, raised the dividend by 11.1% and backed its positive expectations for the full year while cautioning that pressure on volumes is likely to continue in Europe and Japan.


-Revenue in six months to March 31 GBP8.80 billion versus GBP8.55 billion in 1H12

-Pretax profit GBP575 million versus GBP581 million -1.0%

-Adjusted pretax profit GBP611 million versus GBP572 million +6.8% at reported currency rate

-Reported operating profit GBP615 million versus GBP604 million +1.8%

-Operating margin 6.9% versus 7.0%

-Adjusted EPS 24.5 pence versus 22.4 pence

-Diluted EPS 23.0 pence versus 22.4 pence

-Interim dividend 8.0 pence versus 7.2 pence

-March 31 cash GBP674 million versus GBP1.12 billion

-Net debt increased to GBP1.31 billion (Sept. 30: GBP973 million)

-Reports good levels of organic revenue growth in North America and Fast Growing & Emerging

-Cost reduction actions in Europe and Japan progressing well

-Pipeline of new contracts in North America and Fast Growing & Emerging remains healthy

-Pressure on volume in the 1H in Europe & Japan likely to continue but Compass backs its positive FY expectations

-Shares closed Tuesday at 870 pence valuing the company at GBP15.8 billion.

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