Compass heading in right direction at start of year

COMPASS Group, the world’s biggest caterer, said it had made a good start to 2011 with the strong performance seen in the second half of 2010 continuing into the new year across all the regions in which it operates.

The group, which counts London’s O2 arena, and the Super Bowl among its clients, reported first quarter revenue growth, excluding acquisitions, of 5.5 per cent yesterday as it benefited from new business wins in both its food and support services business.

Compass, which serves four billion meals each year in over 50 countries, said it was encouraged by the level of new business opportunities it was seeing.

The group also said its ongoing efficiency programme had enabled it to deliver a further improvement in its operating margin, in line with its expectations. Compass also said it was looking to make acquisitions in emerging and traditional markets.