Compass Group PLC
13 April 2004
13 April 2004
COMPASS GROUP PLC
Sale of holding in Yoshinoya D&C Ltd
Compass Group PLC is pleased to announce that its Japanese subsidiary, Seiyo
Food Systems, has sold its entire remaining stake in Yoshinoya D&C Ltd (being
72,140 shares representing 12.7% of Yoshinoya). This represents total net
proceeds to Seiyo of Yen 11.8 billion (approximately £61 million).
Enquiries:
Compass Group PLC Tel: +44 1932 573 000
Sarah Ellis, Director Investor Relations
Brunswick Tel: +44 20 7404 5959
Timothy Grey / Pamela Small
Notes:
1.In the financial year ended 30th September 2003, Yoshinoya contributed
approximately £12 million to Compass Group's profit before tax as an associate.
2.In August 2003, Compass Group reduced its holding in Yoshinoya to
12.7%. If Compass Group's stake in Yoshinoya had been 12.7% throughout the whole
financial year ended 30th September 2003, it would have made a contribution to
Compass Group's profit before tax of approximately £8 million.
3.In the financial year ended 30th September 2003, Compass Group received
dividends from Yoshinoya of approximately £2 million. If Compass Group's stake
in Yoshinoya had been 12.7% throughout the whole financial year ended 30th
September 2003, dividends received from Yoshinoya would have been approximately
£1 million.
4.Yoshinoya D&C Ltd is a Japanese fast food chain with a leading position
in the beef bowl business.
This information is provided by RNS
The company news service from the London Stock Exchange
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