In the first six months of the year Compass earnings did fall, but in the second period takings stabilised suggesting its difficult period had passed.

Like-for-like sales in the crucial North American market rose by seven per cent compared with six per cent for the group as a whole.

Turnover rose by 10 per cent to £5.53billion. However, profit before tax fell 11 per cent to £112 million.

Compass sold its Little Chef chain and its Travelodge hotel business for £712m and it's claimed this held back profits and sales.