UPDATE 1-UK caterer Compass' first-quarter revenue rises on cost cuts [Reuters]
COMPASS GROUP SP/ADR (CMPGY)
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Source: Reuters
UPDATE 1-UK caterer Compass' first-quarter revenue rises on cost cuts (Adds details on outlook, company comment and background) Feb 6 (Reuters) - Britain’s Compass Group said on Thursday first-quarter revenue rose, helped by cost-cutting measures and continued strength in its North American operations. Compass, which provides 5.5 billion meals for office workers, armed forces and school children in more than 50 countries, said its first-quarter organic revenue grew 5.3% year-on-year. The company, which counts Alphabet Inc’s Google, Coca-Cola, Shell and Nike Inc among its customers, maintained its 2020 forecast of organic growth in the range of 4%-6%. “In the longer-term, we remain excited about the significant structural growth opportunities globally, and the potential for further revenue and profit growth combined with returns to shareholders,” the company added. Late last year, the company had warned of hundreds of job cuts as a part of a programme to stem costs, as the weakening ec
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