Catering giant Compass (CPG) has reported impressive fourth-quarter trading overall but management has decided to cut £95m-worth of costs in depressed southern European regions, which accounts for 4 per cent of revenue. The action will result in an exceptional charge over the next two years amounting to £150m in cash plus £195m in non-cash items.
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Continued strong growth in North America and regions classified by the group as "fast growing and emerging markets" meant impressive organic, constant-currency revenue growth of 8 per cent was achieved by the company as a whole in the final three months of the financial year.
