Catering supply giant Compass has announced an increase of nine per cent in its full-year turnover and a rise of 12 per cent in profits.
The group's pre-tax profits rose to £654 million in the year-ending September 30. It is believed that feeding the armed forces in the gulf have provided part of the boost, as well as growing its market for schools and hospitals.
Mike Bailey, Compass chief executive, said he was pleased with six per cent like-for-like sales growth. Bailey also took the opportunity to play down the commercial threat posed by heightened public concern over obesity, seeing the public interest as an opportunity rather than a threat. He said: “We are not a fast food company. We have put a huge amount of investment into healthy eating programmes.”
Bailey added that the quality of Compass-prepared UK school meals was “very good”, contributing to a decline in packed lunches and he considers education and health to be the most attractive growth markets for the food service industry.
The group also announced a deal with De Beers for Compass to supply food to the diamond company's 24,000 staff worldwide.
