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

Compass Group ‘marginally ahead of expectations'

16 February 2007 by

Compass Group reported encouraging trading results for the first four months of its financial year and said business was "marginally ahead of expectations".

The company said its planned disposal of the Selecta vending-machine unit, which was announced in November, has generated "significant interest" and is expected to be completed by summer of this year.

Compass's decision to sell Selecta, which generates annual sales of £476m from running vending machines across Europe and the UK, follows the group's £1.82b disposal of its travel-restaurant division last year.

The caterer used proceeds from selling the travel restaurants to pay off debt, reduce its pension deficit and buy back stock.

In November Compass announced a 5.5% rise in annual profit, with profit before tax, goodwill amortisation and exceptional items for the year ended 30 September of £363m.

Compass is expected to issue a trading update on 29 March, ahead of posting its interim results on 16 May.

Compass vows to link future rewards to performance >>BP's Graham Sims takes over at Compass >>

Compass boss in bid to set company back on course >>

Compass Group wins major Shell contract >>

By Kerstin Kühn

E-mail your comments to Kerstin Kühn here.

Get your copy of Caterer and Hotelkeeper every week -

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 Group 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