Companies
Compass has strong Q3
By Mark Roberts
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Posted 28 July 2008 @ 10:57 am GMT
Catering firm Compass Group said on Monday that it had a strong third quarter and that its profit margins and revenues, excluding acquisitions, were in line with levels experienced in the first half.
A Compass employee is seen in this undated handout photo. REUTERS/Handout
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Compass reports strong first quarterThe company said it was mitigating rising food prices and labour costs by changing menus and shift patterns.
The company said that it had acquired the U.S. healthcare support services company Medi-Dyn for $50 million and had completed £21 million of a £400 million share buyback programme that it started at the beginning of July.
In a statement Compass said, "Our diversified and robust business model continues to give us confidence about the full year and the future potential of the business."
This article is copyrighted by the International Business Times.
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