May 19, 2020 / 6:25 AM / 10 days ago

Compass launches 2 bln pound equity raise as lockdowns hit caterers

May 19 (Reuters) - The world’s largest caterer Compass Group launched a 2 billion pound ($2.44 billion) share offer on Tuesday, seeking to shore up its liquidity as the coronavirus crisis continues to keep many of its food service operations in offices and schools closed.

The company also withdrew its 2020 outlook and said the drop through impact of lost revenues on operating profit in the month of April was 23% due to lockdowns across its markets. ($1 = 0.8187 pounds) (Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick Graham)

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