Food and support services firm Compass says that is has had a good first quarter and its expectations for the full-year remain unchanged, despite experiencing a continuing challenging macroeconomic environment in Europe.
Nevertheless, the group said that like-for-like volumes in North American and the Fast Growing & Emerging Markets continue to be robust.
Excluding the one-off impact of a players' strike in the National Basketball Association in the US (which cut organic revenue growth by 1%), group organic revenues rose by almost 5% in the first quarter. Including the impact of acquisition, overall revenues rose over 8% on a constant currency basis.
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
"We have seen good levels of new business wins and the improved level of retention we achieved in the second half of last year has continued into the new financial year," Compass said.
BC
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
