COMPASS Group, the world’s biggest caterer, said yesterday first-quarter sales rose more than eight per cent, as continued strength in North America and emerging markets offset weakness in Europe, putting it on track to achieve its full-year outlook.
“We have seen good levels of new business wins and the improved level of retention we achieved in the second half of last year has continued into the new financial year,” the company said in a statement.
Compass provides meals for office workers, members of the armed forces and schoolchildren worldwide.
North America and emerging markets had helped the company post a rise in full-year profit, helping offset tough economic conditions in Europe and the earthquake in Japan.
Shares in Compass closed up 0.75 per cent at 605.5p yesterday, valuing the company at just over £11.4bn.
