Compass Group boosted by emerging markets
02 February 2012 09:47
Catering group Compass has said that growth in North America and emerging markets "continued to be robust", offsetting weakness in European trading.
In a statement, the company said that expectations for the full year remained unchanged thanks to new business wins and an improved level of retention from the second half of last year, which carried over into the new financial year.
Including the impact of acquisitions, overall revenue growth was over 8% on a constant currency basis.
Markets which the company thrived were the fast-growing emerging markets including Australia, Brazil, Turkey, India, China and Russia.
Meanwhile, like-for-like volumes in Europe "continued to be impacted" by the challenging economic environment, whilst in Japan, the company said that it was "seeing a gradual return to normal activity levels."
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