Compass delivers ‘strong’ quarterly sales growth

Compass posted a 7.3% uplift in group revenue year-on-year in the three months to 31 December, bolstered by a 7.3% rise in sales across its North American operations.

The foodservice giant, which sealed a seven-year contract with Heathrow Airport this week, posted a 7.1% increase in sales across its international division during the period.

Business and industry (B&I) and sports and leisure (S&L) sales were the fastest growing across the group as a whole.

The firm’s client retention stood at 96% during the period, while new business growth was approximately 5%.

Compass also completed its acquisition of Dutch food services business Vermaat for $1.7b (£1.25b) during the period, which it said would strengthen its offering and talent pool across the Netherlands, France and Germany.

Dominic Blakemore, CEO of Compass Group said: "We have delivered a strong start to the year with broad based growth across every region and sector. The momentum in our B&I segment, particularly in North America, reflects the strength of our model and the value we continue to deliver for clients.

“With strong new business wins, disciplined execution, and a clear strategy, we remain confident in our outlook and our ability to drive sustainable, long-term value for shareholders."