January 22, 2018 / 7:28 AM / a month ago

BRIEF-Compass Group Expects Effective Tax Rate To Be Reduced To Around 24% In Year Ended Sept.30, 2018

Jan 22 (Reuters) - Compass Group Plc:

* US TAX REFORM

* ‍PRELIMINARY VIEW IS THAT WE EXPECT GROUP‘S EFFECTIVE TAX RATE TO BE REDUCED FROM 26.5% TO AROUND 24%,​

* ‍SEES GROUP‘S CASH TAX RATE TO BETWEEN 19% - 22%, IN YEAR ENDED 30 SEPTEMBER 2018.​

* ‍NEW LAW WILL REQUIRE US TO REVALUE NET DEFERRED TAX ASSET RECOGNISED ON OUR US BALANCE SHEET BEFORE 30 SEPTEMBER 2018​

* ‍DO NOT EXPECT NEW LAW TO BE MATERIAL.​

* ‍UNCERTAINTY AROUND INTERACTION BETWEEN NEW FEDERAL TAX LEGISLATION AND TAX LEGISLATION AT STATE LEVEL WHICH COULD ALSO HAVE AN IMPACT.​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below