Compass profits head south

Catering giant Compass today reported a 9% slump in pre-tax profits as it said the switch to provide healthier meals in UK schools continued to be its greatest challenge.

Compass Group UK and Ireland is a £2.5bn (€3.7bn) turnover business, employing more than 110,000 people.

The world’s largest caterer posted profits of £184m (€269) for the six months to March 31, compared with £203m (€298m) last year.

Group turnover was £5.7bn (€8.4bn), up 8% on a like-for-like basis helped by an encouraging performance in North America.

Andrew Martin, group finance director, said: “In the UK, I’m satisfied we are making progress in implementing the actions necessary to create a solid platform for future growth.”