UK defence contract wins provide revenue boost for Compass

07 February 2019 by
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>>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking