Third Quarter Trading Update 2025

Upgrading FY25 profit guidance due to strong organic growth and better than expected M&A performance 

Agreed to acquire Vermaat for €1.5bn

Compass Group PLC, a global leader in food services, today announces trading results for the third quarter ended 30 June 2025.

Group and regional performance 

Compass delivered another strong performance with organic revenue growth of 8.6% in the third quarter and 8.5% for the year to date. Both regions performed well, with North America delivering strong growth across all sectors. Net new business growth continued in the middle of our 4 – 5% target range, supported by strong client retention of over 96%.   

^{1 Year on year change}

Volume growth in both regions remained positive, with North America particularly strong as it benefited from favourable hospitality events. Growth in International was slightly lower compared to Q2, due to mobilisation timings. Pricing was in line with our expectations.

Acquisition and disposals

The Group’s net expenditure on M&A was $1.1bn for the year to date, largely unchanged from its position at the half year. The integration of recent acquisitions is progressing ahead of expectations, and they are performing well. 

Today we have announced an agreement to acquire Vermaat Groep B.V., a leading premium food services business in Europe, for an Enterprise Value of approximately €1.5bn.  Further details are provided in an accompanying stock exchange announcement, which can be found here.  This transaction is subject to regulatory approval and consultation with the Vermaat Works Council.

Currency

If current spot rates were to continue for the remainder of the year, foreign exchange translation would negatively impact 2024 revenue by $57m¹ and operating profit by $13m¹.

^{1 Based on spot rates as of 17 July 2025} 

Summary and guidance

We are pleased with our third quarter performance with continued strong organic revenue growth and M&A performing better than expected.  

As a result, we are upgrading our 2025 guidance.  We now expect constant currency underlying operating profit growth to be towards 11%, driven by organic revenue growth above 8% and ongoing margin progression.

Sectorisation deep dive

The Group will share a virtual deep dive in September 2025, relating to how it sectorises the market, operating in distinct sectors through a unique portfolio of brands, which is a key competitive advantage.