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Compass sticks with profit guidance after another strong quarter
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Compass sticks with profit guidance after another strong quarter Proactive uses images sourced from ShutterstockCompass Group PLC (LSE:CPG) has reiterated its full financial year guidance after a strong third quarter, holding to underlying operating profit growth of above 11% in constant currency.
The world's largest catering and food services group delivered organic revenue growth of 7.1% in the three months to 30 June.
Net new business growth accelerated into its 4% to 5% target range, keeping the group on track for a fifth consecutive year at that level.
North America led the way with organic growth of 7.5%, helped modestly by higher volumes around the Football World Cup.
The reiterated guidance rests on around 7% organic revenue growth, a further 2% of profit growth from acquisitions and continued margin progression.