The FTSE 100-listed firm still saw revenue in the third quarter to June 30, 2020, drop by 44%, with the margin down 6.3%. In the year to date, revenue was down 14% and the margin up 3.9%, respectively.
The contract caterer said performance in healthcare and defence, offshore & remote was good throughout the period, with education and business & industry sectors starting to cautiously reopen in June, while sports & leisure remained fully shut.
As of the end of June, 60% of the business was operating, compared to 55% by the end of May, it added.
Cash burn in the quarter was £260mln, including capital expenditure of £130mln, and was mainly contractually committed investments. Net debt at June 30 was £3.2bn, with total liquidity of £5bn.
Published at Thu, 30 Jul 2020 06:30:00 +0000-Compass encouraged by June performance, quarterly revenue tans 44%