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UK defence contract wins provide revenue boost for Compass

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UK defence contract wins provide revenue boost for Compass

New UK defence contracts and a strong sports events calendar helped Compass’ revenue grow by 6.9% in the months to 31 December 2018.

European revenue grew by 6.4% driven by the impact of the new UK defence contracts in the second half of 2018.  North America recorded a revenue uptick of 8% while the rest of the world saw an increase of 2.8%.

The catering giant’s trading update read: “We had an excellent start to the year and now expect to be slightly above the middle of our target 4-6% organic growth range for the full year, with modest margin progression.  In the longer-term, we remain excited about the significant structural growth opportunities globally and the potential for further revenue growth and margin expansion.”

Compass has said it continues to progress a disposal programme, while also pursuing “targeted and bolt-on” acquisitions.

The group has said it continues to pursue efficiencies to offset cost increases.

Compass revenues dragged down by ‘challenging cost environment’ in UK>>

 

 

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