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Trading statements

Compass sees organic revenue growth

26 July 2017 07:26

Compass saw organic revenue growth in the third quarter of 3.9% (up 5.0% excluding the impact of Easter).

It said growth accelerated in the quarter with strong net new business in North America, good progress in Europe, and a challenging - but improving - environment in Rest of World.

For the nine months to 30 June 2017 organic revenue growth was 3.7%.

An update said: "Our ongoing commitment to generating efficiencies in the business continues to be supported by our management and performance (MAP) programme.

"We are using these efficiencies to invest in exciting growth opportunities around the Group. In addition, the end of the restructuring programme in our Offshore & Remote business also contributed to the improvement in the operating margin in the quarter.

"Overall, the operating margin for the nine months to 30 June 2017 increased by 20 basis points."

The group added: "Compass had a good third quarter and our full year expectations remain positive and unchanged. North America is performing strongly and we anticipate further progress in Europe and Rest of World in the fourth quarter.

"We remain focused on driving efficiencies throughout the business and our margin expectations for the full year are also unchanged.

"Looking to the longer term, we continue to be excited about the significant structural market opportunity globally and the potential for further revenue growth, margin improvement and continued returns to shareholders."

Story provided by StockMarketWire.com

Related Company: CPG

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