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Compass Group reports 'strong' six month performance

11th May 2016 - 10:17
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Compass Group has reported organic revenue growth of 5.8% to £9.5 billion, with a particularly strong performance in North America, for the six months to 31st March 2016.

The global service provider’s Europe division also reported organic growth of 3.7% to £2.7bn, with operating profit increasing 3.1% in constant currency to £201m.

Richard Cousins, group chief executive of Compass Group, said: “Compass has had another strong six months. North American continues to deliver excellent growth. Our business in Europe is growing nicely as we are rewarded for our investment in previous years to accelerate growth in the region.

“We continue to drive operating efficiencies around the business, which is being reinvested in the growth opportunities we see. The savings from the restructuring are starting to come through, and are offsetting the weakness in offshore & remote and some emerging markets.

“Our expectations for FY 2016 are positive and unchanged. Our pipeline of new contracts is encouraging and our focus on organic growth, efficiencies and cash gives us confidence in achieving another year of delivery.

“In the longer term, we remain excited about the significant structural growth opportunities globally and the potential for further revenue growth, margin improvement, as well as continued returns to shareholders through dividends and ongoing share buybacks.”

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PSC Team