LONDON (dpa-AFX) - Food and support services company Compass Group Plc. (CPG.L, CMPGF.PK) reported Thursday that its first-quarter organic revenue was down 33.7 percent, in line with expectations, amid the protracted lockdown measures to contain the virus during the winter months.
The company said its retention remained strong at 95.7 percent.
In its trading update ahead of its Annual General Meeting, the company said its operating margin was 2.7 percent, higher than sequential fourth quarter's 0.6 percent, with all regions now profitable.
Organic revenue in Business & Industry segment fell 43.4 percent, in Education was down 37 percent, and in Sports & Leisure was down 76.5 percent. However, organic revenues in Healthcare & Seniors edged up 0.8 percent.
Looking ahead for the second quarter, the company said it expects revenues and volumes will be broadly in line with the first quarter. The company expects second quarter operating margin to improve by a further 50-100bps.
Copyright RTT News/dpa-AFX
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