Compass foodservice firm posts revenue 8% up

By Mike Stones

- Last updated on GMT

Related tags: North america, Investment, Stock market

Foodservice firm Compass benefited from strong performances in North America and emerging markets
Foodservice firm Compass benefited from strong performances in North America and emerging markets
Global foodservice firm Compass Group has posted revenue 8% up at £16.9bn for the full year to September 30, reflecting strong growth in North America and emerging markets.

Underlying operating profit was 9% up at £1,178M compared with the same period of last year.

Richard Cousins, group chief executive, said: “Compass has continued to perform well. We've seen particularly good trading in North America and the fast growing and emerging markets. The outlook in both regions is encouraging.”

European businesses

Cousins said the fundamentals of its European businesses remained “solid”. ​Moves to improve operational efficiency and cost savings in the region were said to be progressing well.

Sir Roy Gardner, chairman, said: “The strength of our cash flow has also enabled us to invest in the business to drive organic growth, as well as make infill acquisitions and reward shareholders. Looking forward, Compass is well placed to exploit the significant growth opportunities that we see in many of our markets.”

Compass increased the final dividend by 10% and announced a further £400M share buyback over the 2013 calendar year.

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