Compass Group sales continue to rise
Compass Group sales are still on the up, according to its first interim management statement of 2011.
New business wins and "steady" like-for-like growth has helped the world's largest caterer achieve first quarter organic revenue lifts of 5.5% for the three months to 31 December 2010.
The group's positive performance comes despite particularly challenging conditions within its sport and leisure, and business and industry markets in the UK.
However, the UK and Ireland arm has demonstrated ongoing improvements in performance. The decline in revenues eased from a 5.7% drop in the first half of the 2010 financial year to 30 September, to a 1% decline in the second half.
North America and other overseas markets remain strong and while Compass has said that the primary focus remains on organic growth, it is still looking to make bolt-on acquisitions to take advantage of opportunities in both developed and emerging countries.
Compass has spent £25 million on acquisitions since last September, including deals to buy Life's A Party in Australia, a 90% interest in Chiyoda Food in Japan, Menke Menue in Germany and Sabora in Spain.
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By Janie Stamford
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