6th Feb 2014 07:44
CHERTSEY (Alliance News) - Food and support services company Compass Group PLC Thursday said it has had a good first quarter, and organic revenue growth was approximately 4% at constant currency. The company further said its expectations for the full year remain positive and unchanged.
In its first interim management statement for 2014 ahead of its today's Annual General Meeting, the company said its underlying trends in three regions since September 30 have been consistent with the second half of 2013
North America has started the year well, and that the underlying trends in 2013 have continued into the first quarter of 2014. Like-for- like revenue remains broadly flat.
The company noted that economic conditions in Europe & Japan continue to be difficult and overall organic revenue in the first quarter remains negative, still it is starting to see some signs of stabilisation.
"The pipeline of new contracts is encouraging and our focus on efficiencies gives us confidence in another year of delivery. In the longer term, we remain excited about the significant structural growth opportunities in both food and support services globally and the potential for further revenue and margin growth," the company said in its statement.
Copyright RTT News/dpa-AFX
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