Compass Group, the world’s biggest caterer, today said challenging economic conditions in Britain and parts of Europe would lead to slowing organic sales growth in the first half compared with the same period the year before.
The group, which provides meals for the likes of office workers, soldiers and schoolchildren around the world, said total revenue is expected to grow by about 8.5% in the six months to end March with growth excluding acquisitions rising by almost 5%.
Compass, which serves around four billion meals each year in more than 50 countries, said its performance was being driven by good showings in North America and emerging markets.
“As we look out to the second half, while the current economic uncertainty is likely to continue to put pressure on like-for-like volume in some regions, we remain positive about the opportunities to grow the business and we are encouraged by the pipeline of new business,” the group said.
Compass, which also provides catering for major sporting events such as Wimbledon and entertainment venues like London’s 02 Arena, said the operating profit margin for the first half was expected to be at the same level as the first half last year.
In January, French catering-to-vouchers group Sodexo kept its 2011-12 goals for higher revenue and profit despite tough conditions.
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