Provides contract food, catering and support services to a wide range of commercial businesses and government departments operating in over 50 countries. I have a holding in my income portfolio (epic code: CPG).
Compass Group issued their third quarter IMS today. They delivered another good performance in the third quarter of the year and their overall expectations for the full year remain positive and unchanged.
Organic revenue growth in the quarter was 4.0% on a comparable working days basis (5.2% reported organic revenue growth); this compares to organic revenue growth on a comparable working day basis of 4.8% at the interim stage. Consequently for the nine months to 30 June 2013, organic revenue growth has been 4.5%.
By geographic area, organic revenue growth in North America was 7.7% (8.2% at the interim stage), Fast Growing & Emerging markets grew 10.0% (10.5%) and Europe and Japan, still experiencing difficult conditions in addition to the added affect of the company withdrawing from some uneconomic contracts, declined by 3.4% (3.6%).
They also mentioned that they have increased the operating profit margin by 20 basis points in the quarter, this follows the15 basis point increase at the interim stage.
They appear well on course to achieving their full year EPS expectations of 47p.
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