Compass Group reported organic revenue for the first three months to 31 December grew by 5.9%, driven by strong levels of new business wins, excellent retention and good like for like revenues. Organic revenue in North America increased by 8.2% underpinned by solid growth across all sectors, particularly in Healthcare & Seniors, Vending and Sports & Leisure. In Europe, meanwhile, organic revenue grew by 2.1% amid good growth in UK Business & Industry and a favourable calendar in Sports & Leisure. Organic revenue in Rest of the World increased by 4.0%, driven by strong performances in Turkey and some of its Spanish speaking Latin American businesses. Offshore & Remote business declined by 1.6% due to delays in the transition from construction to production at certain sites. Growth in Rest of World excluding Offshore & Remote was 6.1%. The company said growth in North America, and both Europe and Rest of World are performing ahead of expectations. As a result the outlook for 2018 is positive as the company expects to be above the middle of its target 4-6% organic growth range for the full year.
-15.00p (-0.97%)delayed 12:19PM