StockMarketWire.com - Catering company Compass warned on profit as the acceleration of containment measures adopted by governments and clients in Continental Europe and North America severally impact performances across its businesses.

'Our current expectations are that half year 2020 organic revenue growth should be between 0%-to-2%,' the company said.

'We are implementing significant mitigation plans to manage our costs, and at this stage expect the drop-through impact of the lost revenue to be between 25%-to-30% across the business. As a result, our operating profit for half year 2020 will be £125m-to-£225m lower than expected,' it added.

The vast majority of its sports & leisure and education business in Continental Europe and North America had been closed, and its business & industry volumes were being severely impacted, Compass group said.

At 8:13am: [LON:CPG] Compass Group PLC share price was -115p at 1006.5p



Story provided by StockMarketWire.com