Compass: first-half weaker than expected; shares down

(CercleFinance.com) - Britain's Compass reported a lower than expected first-half profit on Wednesday, hit by Easter timing and bad weather, sending its shares down more than 6%.


Compass, a provider of food for hospitals, schools and oil rigs, said underlying operating profit fell to 864 million pounds for the six months ended 31 March, missing analysts' expectations of 880 million pounds.

Compass reported organic revenue up 4.8%, also falling short of expectations of 5.5%.

"The business is trading well and our full year expectations are unchanged", the group said.

Despite this, shares of the company fell as much as 6.1 percent.

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