Compass Group says 9-month revenue up nearly 1 percent on continued gains in North America

Compass Group says 9-month revenue up 1 pct

LONDON — Compass Group PLC, the world’s largest food service company, said Thursday that revenue rose nearly 1 percent in the nine months to June 30 despite the recession’s impact on the business, sports and leisure industries.

Gains in revenue in North America offset declines in Europe. The company said currency movements added 105 million pounds ($173 million) to operating profit in the period.

“Looking forward to the full year, revenue growth on a constant currency basis is expected to be around 1 percent and organic revenue growth is expected to be broadly flat,” the company said in a trading update.

In the first nine months of the year, Compass said revenue was up 1.8 percent on a constant currency basis and organic revenue — net new business plus comparable revenue — was up 0.8 percent.

In the previous financial year, Compass reported a profit of 287 million pounds, up 33 percent.

On the Net: www.compass-group.com