Compass Group apologises for free school meals fiasco as revenue plummets February 4, 2021 Compass Group this morning apologised for its free school meals provision – delivered by education arm Chartwells – and said it has improved the service. The firm faced backlash earlier this year after the meals provided to the children of low income families were criticised for being insufficient. Compass, which today announced revenue fell 33.7 [...]
Compass Group returns to profit in Q4 following ‘challenging year’ November 24, 2020 Compass Group has made an operating profit of £561m in 2020 after a difficult year that saw parts of the business closed due to the coronavirus pandemic. The catering giant 2020 operating profit was down on last year’s £1,852m. Nearly two-thirds of Compass Group’s revenue came from north America. The group was able to return [...]
Winners and losers: Stocks soaring AND plummeting as Pfizer reports Covid-19 vaccine breakthrough November 9, 2020 US pharma giant Pfizer reporting today that early studies of its Covid-19 vaccine are 90 per cent effective has sent markets into a frenzy, with travel and hospitality stocks shooting up while food delivery services and video conferencing software providers plummeted. Jet engine maker Rolls-Royce saw the biggest change on the FTSE 100, surging 43 [...]
Compass hails revenue rise but warns of currency hit February 6, 2020 Catering company Compass saw organic revenue rise 5.3 per cent for the last three months of 2019 as it landed new US contracts and held onto customers. Organic revenue climbed 7.5 per cent in North America, particularly thanks to appetite among the business, healthcare and education sectors. In Europe organic revenue was flat, however, which [...]
Compass chairman Paul Walsh set to step down this year January 5, 2020 Paul Walsh, the chairman of FTSE 100 catering company Compass, is due to step down within the next twelve months. The firm, which is the world’s largest catering company, will announce the decision on Monday as it prepares to begin the search for Walsh’s successor. Read more: Compass group shares sink as business catering unit [...]
Compass Group shares sink as business catering unit is undercooked November 26, 2019 Compass Group, which provides meals for office workers, armed forces and school children across the globe, has warned deteriorating business and consumer confidence in Europe has hurt volumes and margins at its company catering unit. The London-listed firm’s shares sank 5.5 per cent this morning, despite growth in its North America division and in its [...]
Concerns of ‘overboarding’ spark shareholder backlash against Compass non-exec February 8, 2019 A non-executive at FTSE 100 food company the Compass Group sparked a shareholder backlash at its annual general meeting today over concerns she holds too many roles. Twenty two per cent of the votes cast on whether Ireena Vittal should be re-elected to the company’s board went against her. Read more: Compass shares near all-time high [...]
Mark Kleinman: Come in Houston, just as UK audit reforms bite December 14, 2018 Talk about a hospital pass. Richard Houston, Deloitte’s consulting chief, might be forgiven for feeling a bit like Theresa May this week. Houston’s is the solitary name on a ballot open to partners at the Big Four accountancy firm’s UK operation as it seeks to elect a successor to David Sproul, its chief executive for [...]
Shares jump as caterer Compass points north despite pressures from UK business November 20, 2018 Shares in Compass Group have jumped up this morning after the company showed good revenue and profits for the full year. The figures The caterer’s underlying revenues rose 5.5 per cent to £23.24bn in the 12 months to October, it said. Meanwhile a 2.3 per cent rise profit before tax jumped to 7.3 per cent [...]
Compass gives back £1bn to shareholders May 14, 2014 COMPASS, the world’s biggest catering firm, announced yesterday that it would return £1bn to shareholders through a special dividend, after strong business gains in North America helped push first-half profits up 5.7 per cent. The UK company said that adjusted pre-tax profit for the six months to 31 March rose to £608m. On top of [...]