Vending

Compass Group expects strong Q4 2021 finish led by sports, leisure

Logo provided.

September 21, 2021

Compass Group PLC expects fourth quarter revenue to rise to 86% of its 2019 Q4 revenue by the close of its financial year on Sept. 30, according to an update to investors on the estimated performance in the fourth quarter. Revenue for the full year is expected to be 76% of 2019 revenue.

The revenue is expected to be slightly ahead of its guidance of 80%-85% of Q4 2019 for the fourth quarter, according to the update.

The sports and leisure business led the improvement due to improved attendance and strong per capita spend.

The company's healthcare and defense, offshore and remote sectors have been resilient throughout the pandemic and continued to trade above 100% of 2019 revenues during the period.

Since early September, education has been strong with high on-campus spending, while business and industry was in line with expectations.

Most sectors are expected to continue to perform well in the coming year, although the company remains cautious about business and industry, given continued uncertainty over the pace of office reopenings in major markets.

For an update on how the coronavirus pandemic has affected convenience services, click here.