Catering firm sees significant profit rise

27/11/2009 11:28:23

Catering firm Compass Group has seen its annual profits rise by more than 32 per cent this year, which could boost those looking for contract catering jobs.

Despite a difficult trading environment, the hospitality firm saw earnings after tax grow 32.3 per cent to £586 million in the year ending September 30th, thanks to high levels of new business and cost saving initiatives.

"Compass has delivered an excellent performance in a challenging environment," group chief executive Richard Cousins said.

"Consistently high levels of net new business and a step change in operating efficiency, generating £161 million of savings, have contributed to... profit growth."

This month saw Compass's Eurest Services sign a £100 million deal with the Lloyds Banking Group to provide specialist catering to the group's 78 UK sites for a five-year period.

It was also reported this week that Elior's Avenance Healthcare division has won a £5 million contract to provide catering at Singleton Hospital in Swansea.

Hospitality Recruitment in the UK

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