LONDON (dpa-AFX) - British food services company Compass Group Plc (CPG.L, CMPGF.PK) reported Thursday that its first-quarter Group organic revenue increased 11.7 percent from last year with strong growth across all regions.
In its trading update, the company said the first-quarter like for like volume was better than anticipated, especially in B&I, with all other growth drivers in line with expectations.
Organic revenue growth in North America was 11.3 percent, in Europe was 13.0 percent, and in Rest of World was 11.8 percent.
Dominic Blakemore, Group Chief Executive, said, 'We've had a strong start to the year with sustained balanced growth across all regions. Outsourcing trends and volumes were strong despite continued inflationary pressures and some macroeconomic uncertainty.'
Looking ahead, the company said its fiscal 2024 guidance remains unchanged. Underlying operating profit growth is expected to be towards 13 percent delivered through high single-digit organic revenue growth and ongoing margin progression.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
