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Compass returns to growth in Europe and delivers strong performance in North America

13th May 2015 - 10:31
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Compass returns to growth in Europe and delivers strong performance in North Ame
Abstract
In its interim results for the six months ended March 31st 2015 announced today, Compass Group is reporting 30.9% group revenue in the Europe & Japan region and 51.8% group revenue in North America, up from 47.9% in 2014.

Organic revenue growth in the six months was strong at 5.7% with underlying revenue at £9.1 billion. In Europe & Japan organic revenue was at 0.9% and in North America this number is at 8.2%.

Richard Cousins, group chief executive, said:  “Compass had a strong first half of the year.

“We have delivered excellent levels of organic growth in North America and emerging markets. Encouragingly, Europe & Japan has returned to growth despite a mixed economic backdrop in the region.

“We have also continued to deliver good levels of operating efficiencies, which have enabled us to invest in the many growth opportunities we see, as well as deliver an improvement in the operating margin of 10 basis points.

“Our expectations for the full year remain positive and unchanged. However, the economic environment in some of our emerging markets is uncertain, and lower commodity prices are impacting our Offshore & Remote business.

“Nevertheless, our pipeline of new contracts is encouraging, and our continued focus on organic growth and efficiencies gives us confidence in achieving another year of delivery.

“In the longer term, we remain excited about the significant structural growth opportunities globally and the potential for further revenue and margin growth, as well as continued returns to shareholders.”

Written by
PSC Team