Compass hails steady performance

Catering group Compass steadied the nerves of beleaguered investors today as it said trading had been steady over the past four months.

The group, which in November reported a 10% fall in profits for its last financial year, said the performance since the start of October had been in line with expectations following “good success” in new contract wins.

Ahead of the company’s annual meeting in London, chairman Sir Francis Mackay said: “This is very much a case of steady as she goes.”

He added that the process of recruiting a new chief executive remained ongoing, while the company was encouraged by the level of interest in the Upper Crust-to-Harry Ramsden travel business it put up for sale in September.