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British caterer Compass sees margins improve quarter-on-quarter

Reuters

(Reuters) - British catering firm Compass Group expects its margins in the second quarter to be better than the first, as it trimmed costs to cope with an expected slump in revenue driven by coronavirus-led closures.

The world's largest caterer said its operating margin for the second quarter ended March 31 is expected to increase by about 130 basis points to about 4% from 2.7% in the previous quarter. Half-year organic revenue was forecast to drop 31%.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Devika Syamnath)