Compass Advances to Record High as Sales Growth Tops Estimates

Compass Group rose to a record in London after first-quarter sales growth beat analyst estimates, led by growth in North America.

Shares in the UK food-service and support services company gained as much as 4.6 per cent to 1,228 pence.

Organic revenue rose 5.9 per cent, Chertsey, England-based Compass said in a statement Thursday, beating the 4.8 per cent median estimate of 11 analysts surveyed by Bloomberg.

Growth in North America, which accounts for more than half the company’s profit, was 7.9 per cent.

“Our outlook for 2016 remains positive,” Compass said in the statement.

News by Bloomberg, edited by Hospitality Ireland