Compass upbeat on sales despite warning of currency headwinds

 
Kasmira Jefford
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COMPASS, the world’s largest catering giant, has said first-half sales will be four per cent ahead of the last year thanks to contract wins in North America and a recovery at its European business.

The company said yesterday it is encouraged by its pipeline of new contracts, and also forecasts an increase in its operating profit margin of around 10 basis points in the six months to 31 March.

It warned that exchange headwinds could knock 5.7 per cent or £37m off underlying profits when translating overseas currencies into sterling.