COMPASS GROUP PLC
5 October 1999
Trading Update
Compass Group PLC is today starting its normal analysts' briefings ahead of
its close period leading up to the announcement of results for the year ending
30th September 1999. In line with 'best practice' the company is also making
this statement to ensure that the information being provided is widely
available.
Francis Mackay, Chairman, Compass Group PLC, commented: 'During the year
Compass Group has continued to concentrate on the successful implementation of
its focused strategy - concentrating on expanding our segmentation and
foodservice branding approaches across our business. Turnover and profits
continue to increase in line with market expectations.'
Key points to note are:
* The company confirms that its trading results for the year are
anticipated to be in line with market expectations.
* Strong new business growth and business retention continues across the
Group. New contracts announced include:
* Appointment as official supplier for the 2002 Salt Lake Winter Olympic
Games for foodservice and vending. Eurest will be exclusively
responsible for all athlete and public foodservice and vending in
addition to corporate hospitality; and
* United Technologies 10 year contract for staff foodservice and vending
at 27 sites in the US - total contract revenues $300m.
* All senior management appointments completed and in place following the
appointment of Francis Mackay as Chairman and Michael Bailey as Group
Chief Executive in June 1999.
Michael Bailey, Group Chief Executive, said: 'Compass Group is well-positioned
to further grow in its target marketplaces and to build on our success with
continued margin improvements throughout the business'.
The company's Preliminary Results announcement will be made on 9th December
1999.
Contact: Andrew Lynch, Group Finance Director, Compass Group PLC
Telephone :
On 5th October 0171 796 4133 until 4pm. Thereafter 01932 573000
Cathi Lawrence, Corporate Communciations Director, Compass Group PLC
Telephone :
On 5th October 0171 796 4133 until 4pm. Thereafter 01932 573000
Nick Lyon, Hudson Sandler Ltd
Tel:0171 796 4133
NOTES TO EDITORS
Compass Group is the world's leading foodservice company, providing service to
clients in more than 50 countries around the world including the USA, UK,
Continental Europe, Eastern Europe, South America, South Africa and Asia.
Compass Group floated on the UK Stock Exchange in 1988 and since 1992 has
experienced significant growth, now employing approximately 170,000 people
worldwide. Compass Group companies can offer clients an extensive range of
high quality brands including Burger King, Pizza Hut, Upper Crust, and
Ritazza. Compass Group's web site is located at www.compass-group.com
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