Compass sees 'good' start to the year

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.

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"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