compass

Compass Group (LON:CPG) shares jumped 5 percent on Thursday, after reporting organic revenue growth for the first three months to 31 December of 5.9 percent.

The strongest region for the period was North America, which saw an 8.2 percent increase in organic revenue, boosted by a particularly strong performance in the Healthcare & Seniors, Vending and Sports & Leisure sectors.

Europe saw revenue growth of 2.1 percent, with organic revenue across the Rest of the World up 4 percent.

The hospitality group did note that currency movements were likely to have a negative effect over the remainder of the year, with foreign exchange translation likely to negatively impact 2017 revenue by £1.2 billion and operating profit by £97 million if current spot rates continue for the rest of the year.

Looking forward, Compass said its outlook for 2018 is “positive”, and that, in the longer term, it “remains excited about the significant structural growth opportunities globally and the potential for further revenue and margin growth.”