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North America Is Bright Spot For Compass Group In Q3

Posted On: 7/29/2013

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TAGS: vending, food service, catering giant, Compass Group, Canteen Vending, Compass third-quarter organic revenue, contract foodservice, Compass Group financial report

LONDON -- Compass Group, the world's biggest caterer and parent of Canteen Vending, posted a 4% rise in third-quarter organic revenue, boosted by strong business in North America and emerging markets. These gains offset weaker performance in Europe.

The company said it won and retained high levels of business in North America for the period, ended June 30. Business was also strong in emerging markets, led by Brazil and Turkey.

Organic revenue declined by 3.4% in Europe and Japan, but the company said its move last year to begin shedding unprofitable contracts and selling businesses in southern Europe helped offset the impact on profitability.