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11/12/2001
Compass report strong growth despite US attacks
The world's largest catering company, Compass Group has reported strong results despite the global economic slowdown.
Compass, whose subsidiary Eurest Sutcliffe recently announced a deal to provide catering services at Halifax’s new call centre in Belfast, had issued a profit warning after the US attacks.
However pre-tax profits of £583 million were revealed for the year to September, at the higher end of analyst’s expectations.
In October, the company had warned that the September 11 attacks would cut its profits by about £5m for the year ending September. The group also reaffirmed earlier sales forecasts.
In a statement the company said it remained confident that the company would continue to perform well, achieving market share gains that would drive organic sales growth within their target range of between six per cent and nine per cent in 2002.
Compass was floated off from Granada in February, taking with it the catering and hotel businesses, leaving Granada as a pure media company.
The Group has over 270,000 employees working in more than 90 countries providing food services and hospitality. (MB)
Compass, whose subsidiary Eurest Sutcliffe recently announced a deal to provide catering services at Halifax’s new call centre in Belfast, had issued a profit warning after the US attacks.
However pre-tax profits of £583 million were revealed for the year to September, at the higher end of analyst’s expectations.
In October, the company had warned that the September 11 attacks would cut its profits by about £5m for the year ending September. The group also reaffirmed earlier sales forecasts.
In a statement the company said it remained confident that the company would continue to perform well, achieving market share gains that would drive organic sales growth within their target range of between six per cent and nine per cent in 2002.
Compass was floated off from Granada in February, taking with it the catering and hotel businesses, leaving Granada as a pure media company.
The Group has over 270,000 employees working in more than 90 countries providing food services and hospitality. (MB)
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