Strong US, emerging markets continue at Compass

Contract caterer Compass said it had a good first quarter with expectations for the full year positive and unchanged as its North America and emerging market performing strongly.

Contract caterer Compass said it had a good first quarter with expectations for the full year positive and unchanged as its North America and emerging market performing strongly.

"North America and Fast Growing & Emerging are continuing to perform well and we are making good operational progress in Europe & Japan," it said in a company statement.

First quarter organic revenue grew nearly 6% while organic revenue growth in North America benefited from the Ascension Health contract which contributed over 1% to global sales in the period.

However in Europe the trading environment remains difficult, as expected, but it says cost reduction plans are on track.

Like for like revenue is positive overall but continues to show different trends across the world; positive in North America, negative in Europe & Japan and strong in Fast Growing & Emerging, Compass explained.

"In the longer term, we remain positive about the significant structural growth opportunities in both food and support services globally and the potential for further revenue and margin growth," it said.

CJ

Recommended

Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023
Government plans could see NS&I boost interest rates
Savings

Government plans could see NS&I boost interest rates

The government-backed bank has a new funding target, which could prompt it to boost the rates on its Premium Bonds, ISAs and bonds.
16 Mar 2023
Where will house prices go in 2023?
House prices

Where will house prices go in 2023?

We explore what could happen to house prices in 2023 as the market continues to slow down.
24 Mar 2023