Gategroup revenue up 2% in 1H2010

Gategroup revenue up 2% - consolidated financial highlights for the six months ended Jun-2010:

• Revenue*: EUR975.7 million, +2.0% year-on-year;
• Operating costs: EUR945.7 million, +1.6%;
• EBITDA:EUR69.5 million, +4.3%;
• Operating profit: EUR30 million, +16.4%;
• Net profit: EUR7.3 million, -68.8%. [more]

*Based on the conversion rate at EUR1 = CHF1.35

Gategroup: "Gategroup remains cautiously optimistic about the outlook for the remainder of 2010. Based on these solid first half results and an anticipated recovery during the second half in Europe, all other things being equal, we now expect an EBITDA margin of close to 8% with continued strong operating cash flow," Guy Dubois, CEO. Source: Company statement, 12-Aug-2010.