Firm in profit

LONDON: Compass Group, the world’s biggest caterer, said on Wednesday that annual net profits rose more than 32 per cent as it won new contracts and cut costs, adding that it saw “excellent” growth prospects. Compass said earnings after tax grew 32.3 per cent to £586 million in the year ending September 30, compared with the group’s performance in 2007-08. Annual revenue jumped 17.5 per cent to £13.4 billion. “Compass has delivered an excellent performance in a challenging environment,” group chief executive Richard Cousins said in comments accompanying the data.

Hardware purchase

ABUJA: The Nigerian government has agreed contracts to buy military hardware from France and Singapore worth more than $110 million dollars, its information minister said on Wednesday. The west African state will buy five used Puma helicopters from the French government for peacekeeping and to patrol the volatile Niger Delta region, Dora Akunyili said after a cabinet meeting. The $103 million dollar deal with France also includes training, ground support equipment and spare parts. Under a second contract, worth $8.8 million dollars, Nigeria will buy a fast patrol boat from Suncraft International in Singapore.