Compass Group pleased with trading performance

23rd July 2009, 11:10am

Compass Group is continuing to perform well delivering another quarter of growth, but sales did slow according to the contract caterer.

In a statement, relating to the three months to the end of June, Compass said: "Encouragingly, the level of new business wins and underlying retention has remained strong and consistent with the levels seen in the first half of the year and the last financial year. Like for like revenues in Education, Healthcare and Defence, Offshore and Remote have continued to see good growth.

"As anticipated, like for like volumes in Business & Industry and Sports & Leisure have continued to slow, driven largely by a reduction in event catering and corporate hospitality, but also reduced headcounts and shorter working hours."

Organic revenue in the UK declined by 4.8% and looking forward to the full year, Compass said it expects growth to be "broadly flat".

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