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
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
