Food catering volumes will pick up from September as students return to university campuses, audiences attend sports and music events and economic activity recovers, the head of the Compass Group said today.
Margins at the world’s biggest catering company have increased over the last year as it managed costs and renegotiated contracts, but volumes are flat at about 70% of pre-pandemic levels.
Read the full article on the Reuters website
NAM Implications:
- Cutting costs provides breathing space…
- …but sales growth needs investment.
- Foodservice will benefit from allowed events.
- But the key will be the extent to which things will return to normal.
- i.e. important to accept:
- at least 20% will continue to work from home
- at least 25% of pubs and restaurants will be redundant
