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Gloucestershire Business News

Catering firm Compass gets extra helpings

Catering firm Compass - one of the biggest institutional caterers - has put shareholder dividends back on the menu as trading improves.

The company, which has a strong presence in schools, universities and leisure venues, axed dividends last year at the height of the Covid crisis.

Now, it's due to pay out 14p per share, which is equivalent to about £250million, after services returned closer to normal with the ending of lockdown restrictions.

Profits more than doubled to £464m in the year to September, compared to £210m for the previous 12 months.

The company reports that demand for new work is 'exceptional' - at a record £2.1billion - with half of this coming from companies outsourcing their catering for the first time.

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