Catering group Compass yesterday said its Irish operation turned over €70 million in the year to September 30th, while the division won new business in the Republic worth €6.1 million during the same period.
The UK-based Compass Group reported that global turnover grew 6 per cent to £11.3 billion sterling (€16.2 billion) in the year to September 30th.
Pre-tax profits were up 12 per cent to £654 million and earnings per share (eps) grew 13 per cent to 20.6 pence.
The group sold its Little Chef and Travelodge businesses during the year. Its results exclude these discontinued activities. Chief executive, Mr Michael Bailey, said Compass aimed to deliver 6 per cent turnover growth in 2004.
Compass employs 1,500 people in the Republic through its Eurest workplace catering business. It also has a partnership deal with O'Brien's sandwich bars to expand the franchise into office and factory canteens.
Managing director, Mr Mike Malloy, said the business had a turnover of €70 million during the year, and said growth was on a par with the rest of the group.
He did not reveal the profits earned here. However, it is understood that Irish operating margins are slightly higher than the 7 per cent achieved by the group globally. Mr Malloy said yesterday Eurest had won new business worth €6.1 million.
The new contracts included agreements with Halifax, PricewaterhouseCoopers and Wyeth.
Mr Malloy did not reveal if the new contracts resulted in any gains on sales during the year. He said their full value would be realised over a period of years.
"My objective is to generate as much business as I can and to sustain it going forward," he said.
Mr Malloy added that the Irish division also performed well in holding on to its existing contracts in 2003.
He also said that trading conditions had improved in this country over the last six months.
"I think the rate at which people are exiting business is slowing down, and I am seeing consolidation of our business in the last six months," he said.
