Compass Group PLC (LSE:CPG) has reiterated its full financial year guidance after a strong third quarter, holding to underlying operating profit growth of above 11% in constant currency.
The world's largest catering and food services group delivered organic revenue growth of 7.1% in the three months to 30 June.
Net new business growth accelerated into its 4% to 5% target range, keeping the group on track for a fifth consecutive year at that level.
Client retention remained at 96%, while the pipeline of opportunities was described as the strongest the company has ever seen.
North America led the way with organic growth of 7.5%, helped modestly by higher volumes around the Football World Cup.
International growth moderated to 6.4%, reflecting lower inflation and the timing of sports and leisure events.
The group secured $4.3 billion of new business wins over the past year, up 16%, with half coming from clients outsourcing for the first time.
Business and industry remained the strongest sector, delivering double-digit growth and more than $2 billion of new wins.
Compass continues to serve artificial intelligence hyperscalers across the data centre ecosystem, providing catering and support services during construction and operation.
A record selling season in education included the University of Kentucky contract, its largest in the sector to date.
The reiterated guidance rests on around 7% organic revenue growth, a further 2% of profit growth from acquisitions and continued margin progression.
Net spending on mergers and acquisitions reached $2.4 billion for the year to date, little changed since the half year.
Chief executive Dominic Blakemore said the business was winning market share across multiple sectors, supported by disciplined execution and resilient client demand.
He pointed to an addressable market exceeding $360 billion and significant room to increase penetration.
