The Compass Group says it is not expecting to see a rise in profits from its UK business when it releases its full year results in November.
In a trading statement about its full year results, the world’s largest foodservice company said the UK’s operating profit “will be broadly in line with last year” due to its continuing focus on simplifying the business to reposition it for growth.
Across the whole business, the company is anticipating organic revenue growth of 5 per cent due to positive trading in the first nine months and an increase in margins despite the rising cost of food.
Sales in America are expected to rise by 7 per cent and by 5 per cent in Europe. The company is also expecting to benefit from strong new business wins in Australia and Latin America.
The company, which supplies catering at a number of sporting venues and businesses in the UK as well as schools and hospitals, will be releasing its full year results to September 30 on November 26.