Growth returns to Compass as catering industry perks up

Compass Group, owner of Leith's, Payne and Gunter and the Lime Venue Portfolio, said organic growth had returned in the second quarter of this year.

Growth returns to Compass as catering industry perks up
Growth returns to Compass as catering industry perks up

The news comes after a difficult 2009 in which the catering giant suffered plummeting revenues and froze the pay of 1,000 of its senior management in its UK and Ireland business.

In a trading statement ahead of the caterer's half-year end on March 31, Compass said organic revenue was expected to rise by about 1.5% in the second quarter. Revenue fell in the first quarter of 2010 and declined 3% in the fourth quarter of last year.

Shares in Compass jumped on the news this morning.

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