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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Saba Capital and Boaz Weinstein respond to investment trustsAs investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
-
How to find top-quality companies with growing dividendsIan Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
