Compass reports 3.9% organic revenue growth in Q3 results
Compass Group's third quarter results reveal positive organic revenue growth of 3.9% and "good progress" in Europe since 31 March.
In the contract caterer's third quarter update, it adds for the nine months to 30 June organic revenue growth was 3.7%.
The group says improved efficiency supported by its management and performance programme, investment and the end of its restructuring programme in its offshore and remote business contributed to the improvement in the quarter's operating margin.
Organic revenue in Europe declined by 0.3% (up 2.2% excluding Easter) in the third quarter, and grew by 1% in the nine month period to 30 June.
The report read: "Compass had a good third quarter and our full year expectations remain positive and unchanged… and we anticipate further progress in Europe in the fourth quarter. We remain focused on driving efficiencies throughout the business and our margin expectations for the full year are also unchanged."
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