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LONDON (AP) - Compass Group PLC, the world's largest catering company, said Thursday trading in the first five months of the financial year are ahead of expectations.
The company, which announces its half-year results on May 14, said it expects to report a 5 percent gain in organic revenue growth. It added that it expected the trend to continue into the second half.
Tony Shepard, an analyst at Charles Stanley in London, said the update should allay fears that the group would suffer from rising food prices and the economic slowdown in the United States.
"In addition, the weak dollar is no longer a negative factor on the reported results as the group is expected to have a favorable 6 million pounds ($12 million; 7.7 million euros) benefit to operating profit in the first half," Shepard said.
Compass Group shares were up 4.1 percent at $6.47 on the London Stock Exchange.
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