Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Compass caterer announces fall in profits  Join our daily free Newsletter

MENAFN - AFP - 21/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) Compass Group, the world's biggest caterer by sales, said on Wednesday that its annual net profits dropped 17 percent owing to the cost of restructuring operations, particularly in troubled eurozone nations.

Profit after tax slid to 605 million (962 million, 754 million euros) in the 12 months to September 30 compared with net earnings of 728 million in 2010/11, Compass said in an earnings statement.

The underlying business showed strength as Compass said its sales rose 6.8 percent to 16.9 billion on growth of the business in the north America and the company's emerging markets such as Turkey and Brazil.

Compass said it planned to repurchase 400 million of shares in 2013.

"The fundamentals of our European businesses remain solid and the decisive actions we're taking to improve operational efficiency are progressing well," Compass chief executive Richard Cousins said in the statement.

"Overall, the prospects for the business around the world are good and I remain confident that we will continue to drive revenue and margin growth."

Compass said it had taken a hit totalling 295 million mainly related to its overhaul of southern European operations amid economic unrest in Italy, Portugal and Spain


 






  MENA News Headlines


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help