Compass Group posts strong Q3 results globally and in Europe
Compass Group has posted positive Q3 results with strong revenue growth and good performance across Europe and the UK.
The global foodservice company stated organic revenue was up 5.5% for the nine months to 30 June 2015, with good levels of new business wins and retention rates across all regions.
In its European region specifically, revenue growth was up 1.2% for the same nine-month time period, and 1.8% on the third quarter, with performance in the UK and Spain having improved especially. This success has allowed the company to invest further in sales, it said.
The company also posted growth in its other regions, including North America, and its "fast growing and emerging" sector, although admitted that Brazil and Turkey had seen weaker results.
Commenting on the results, Compass stated: "Compass had a good third quarter and we maintain our positive revenue expectations for the full year. We are delivering good levels of operating efficiencies, which have enabled us to invest in the growth opportunities we see and improve the operating margin."
It added: "We remain excited about the significant…potential for further revenue growth, margin improvement and continued returns."
Compass Group operates in over 50 countries, with annual revenue of over £17b per year. Its sectors include business and industry, healthcare and seniors, education, defence, offshore and remote, sports and leisure, and vending.
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