Compass Group PLC, which owns Canteen Vending Services Inc. in the U.S., in its first interim management statement for 2011, said that it has had a good start to the year.
The positive trends in organic revenue growth seen in the second half of 2010 have continued into the first quarter of the new financial year, with organic revenue growth of around 5.5 percent, the company reported. This reflects strong growth both in foodservice and in the company's fast growing support services business. Moreover, the company is encouraged by the pipeline of new business opportunities.
Compass said its ongoing focus on efficiency and the rigorous application of its management and performance program, MAP, has enabled it to deliver further operating efficiencies and achieve good leverage of its overhead base. The company is using these efficiencies in part to support the exciting future growth opportunities in the business and to deliver a further improvement in the operating margin, in line with its expectations.
