May 15, 2019 / 6:56 AM / 7 months ago

British caterer Compass's first-half organic revenue rises 6.6%

May 15 (Reuters) - World’s biggest catering firm Compass Group Plc on Wednesday reported a 6.6% rise in organic revenue for the first half of the year, boosted by new UK defence contract wins and strong performance in its North America business.

Shares of the FTSE 100-listed company were indicated to open 2% higher, according to traders.

Compass, which provides meals for office workers, armed forces and school children in more than 50 countries, increased its outlook for full-year organic revenue growth.

“Following the very strong first half performance we now increase our organic revenue growth guidance for the full year and expect to deliver organic revenue growth and margin progression similar to 2018”, the company said.

Compass previously said it expects full-year organic revenue growth to be slightly above the mid-point of its 4% to 6% forecast range.

First-half underlying operating profit rose 5.8% at constant currency to 951 million pounds ($1.23 billion)

$1 = 0.7748 pounds Reporting by Ismail Shakil and Karina Dsouza in Bengaluru; Editing by Shounak Dasgupta

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