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New UK business props up European figures for Compass

21 November 2017 by
New UK business props up European figures for Compass

Compass Group has delivered a 15% increase in profits having seen worldwide revenues rise to £22.9b.

Growth in Europe was driven by new business in the UK and Turkey, offsetting what the catering giant described as "dull trading" on the continent, particularly in France and Germany.

Significant deals in the UK included contracts with Oxford University, Premier Inn and Wimbledon.

Revenues in Europe for the year ended 30 September 2017 stood at £5.9b with operating profit up 8.6% at £428m, thanks in part to favourable exchange rates.
Chief executive Richard Cousins said that worldwide growth had been driven by North America, which represented 58% of group revenue.

He added: "We have maintained our focus on MAP 3 (cost of food) with initiatives such as menu planning and supplier rationalisation, as well as continually optimising MAP 4 (labour and in unit costs) and MAP 5 (above unit overheads).

"These efficiencies combined with modest pricing increases enabled us to offset inflation pressures and reinvest to support the exciting growth opportunities we see around the world."

Chris Garside to replace Dennis Hogan as Compass MD >>

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