9th Feb 2010 - 00:00
Abstract
Compass Group has had an encouraging start to the year with organic revenue steadily improving, according to its latest financial statement.
The organic revenue has improved from a decline of approximately 3% in the fourth quarter of 2009 to a decline of 1.7% in the first quarter of the year.
As a result, Compass has been able to deliver a further good improvement in operating margin compared to the same period last year and free cash flow conversion remains strong.
In addition, Compass has won new contracts in divisions including education, healthcare and division as well as with Aviva, Banca d'Italia, Visa and CSN Corporative Brasil.
A spokesperson for the company said: "We continue to see strong growth in new business both in foodservice and in our fast growing support services business and retention rates remain high."
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