Compass trading update warns of slow growth for first six months of year

27 March 2012
Compass trading update warns of slow growth for first six months of year

Challenging economic conditions in the UK and parts of Europe will slow growth for the first six months of the year at Compass Group, compared with the same period the year before.

The world's largest caterer said it expects total revenue growth to be about 8.5% in the half-year to 31 March 2012 with like-for-like growth increasing by nearly 5%.

Compass said in a trading update to investors ahead of its results announcement on 16 May, that its performance is being driven by North America and emerging markets.

The business committed about £160m to infill acquisitions in the same period, including NKS in Japan, Supercare in South Africa and DORA Gastro in Czech Republic

The group said: "As we look out to the second half, whilst the current economic uncertainty is likely to continue to put pressure on like for like volume in some regions, we remain positive about the opportunities to grow the business and we are encouraged by the pipeline of new business.

"We are well placed to capitalise on the significant structural growth opportunities in both food and support services around the world and we are increasingly expanding our presence in fast growing and emerging markets, which remain a focus for future growth."

Compass to see decline in growth in UK and Ireland >>

Richard Cousins one of senior City figures in the spotlight after HBOS report >>

Compass acquires Japanese food service company >>

By Janie Manzoori-Stamford

E-mail your comments to Janie Manzoori-Stamford here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to jobs

Looking for a new job? Find your next job here with jobs

Blogs on ]( Catch up with more news and gossip on all Caterer's blogs
[E-Newsletters]([ For the latest hospitality news, sign up for our E-newsletters
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.


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