Profits have crashed at Compass Group, the world’s biggest catering firm, after the Covid-19 pandemic led to the closure of schools, offices and sporting venues that it supplies. Compass was forced to shut about half of its operations during Covid-19 lockdowns in the spring. Compass said the food catering market, estimated at £220bn, remained very attractive. Its business supplying offices has been hit hard as large numbers of people have been working from home since the coronavirus outbreak. The firm raised £2bn from investors to shore up its finances in May, one of the biggest fundraisings since the Covid outbreak.

Source: The Guardian November 24, 2020 10:23 UTC