UK catering company trading 'above expectations'

UK catering group Compass offered further signs today that it was making progress in its efforts to improve profitability.

In a brief trading update ahead of its annual meeting, Compass said the first four months of its financial year had been encouraging and that it was trading marginally ahead of expectations.

The update came as the company announced the addition of two high-profile City names to its boardroom.

James Crosby, who is the former chief executive of Halifax Bank of Scotland, and AA chief executive Tim Parker have joined the company as non-executive directors.