| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Compass organic revenue falls 33.7% in Q1 as virus lockdowns bite
StockMarketWire.com
|
Foodservice company Compass said organic revenue in its first fiscal quarter fell by more than a third, in line with its expectations, owing to impact of a protracted lockdown measures to contain the virus during the winter months.
The weakness in the first quarter comes as volume recovery remained slow, but the operating margin continued to improve, increasing from 0.6% in Q4 to 2.7% in Q1, with all regions now profitable, the company said.
Looking ahead, the company said it anticipated that second-quarter revenues and volumes would be broadly in line with Q1. 'Despite this, we expect second quarter operating margin to improve by a further 50-100bps,' it added.
Story provided by StockMarketWire.com
|
|
|
|
|
|
