Compass Q1 sales up 5%

3rd Feb 2011 07:47

Contract caterer Compass Group said revenue growth seen in the second half of 2010 continued into the first quarter of the new financial year, with organic revenue growth of around 5.5%."This reflects strong growth both in foodservice and in our fast growing support services business and we are encouraged by the pipeline of new business opportunities," Compass said in a company statement. The group, whose clients include Amazon, said organic revenue trends across the four geographies are broadly in line with those seen in the second half of last year. Strong growth continues in North America and in the Rest of the World operations. Revenue also continues to be driven by growth in net new business and like for like revenue growth, Compass said.The group added that ongoing efficiency programme had enabled it to deliver an improvement in its operating margin.Compass said it continues to look at acquisition opportunities for its core food and fast growing support services markets in both developed and emerging countries.