Compass sees good start to year

COMPASS , the world's biggest caterer, said it made a good start to its current fiscal year, with its rate of sales decline slowing and its pipeline of new business remaining strong.

By The Newsroom

Published 5th Feb 2010, 08:47 BST

The company, which feeds office workers, soldiers and schoolchildren, said organic revenue fell 1.7 per cent in the first quarter, compared with a 3 per cent fall in the fourth quarter of the previous year.

Compass, which counts Chelsea Football Club and London's O2 arena among its clients, highlighted new contracts with Aviva, Banca d'Italia, Visa and CSN Corporative Brasil.

"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," the group said on Friday.

Compass said it had delivered a "further good improvement" in operating margin compared with the same period last year.

The group also announced the acquisition of the Canadian business of Hurley Corp.

London Aviva