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July 24, 2013, 2:26 a.m. EDT

Compass full-year expectations remain positive

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By MarketWatch

LONDON--Compass Group PLC , the contract food service company, Wednesday said overall expectations for the full year remain positive and unchanged after strong third quarter growth in North America and its Fast Growing & Emerging markets, while economic conditions in Europe & Japan remain difficult.


-Organic revenue growth in the quarter was 4.0% on a comparable working days basis and for the nine months to June 30, organic revenue growth has been 4.5%

-Delivered an increase in the operating profit margin of 20 basis points in the quarter

-Maintained good trading momentum in North America; Year on year organic revenue growth in the third quarter was 7.7% on a comparable working days basis

-Economic conditions across Europe & Japan have remained difficult and in the third quarter organic revenue declined by 3.4% on a comparable working days basis

-Fast Growing & Emerging: Organic revenue growth in the third quarter remained strong, driven by both new business wins and like for like revenue growth

-Remains very optimistic about the structural growth potential of market

-Shares closed Tuesday at 876.0 pence valuing the company at GBP15.9 billion.

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