LONDON: Compass Group, the world's biggest caterer by sales, said on Wednesday logged flat net profits for the first half of its financial year amid difficult trade in Europe and Japan.
Profits after taxation stood at £424 million ($647 million, 499 million euros) in the six months to the end of March, compared with £427 million a year earlier, Compass said in a results statement.
Underlying operating profit from continuing operations however grew 5.3 percent to £650 million in the same period.
And revenues advanced 4.1 percent to £8.8 billion.
"Compass has started the year well. We have generated organic revenue growth of over 4.0 percent, reflecting the strength of the performance in North America, and Fast Growing and Emerging," said chief executive Richard Cousins.
"Economic conditions in Europe and Japan remain challenging but we are executing the action plans we announced last year and improving our operating efficiency significantly."
Pre-tax profits meanwhile rallied 8.1 percent to £611 million in the company's first half.
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