Compass Group announces a decrease in revenue due to the pandemic’s continuing impact on operations
Compass announced revenue decreasing 6.3% year over year to fiscal 2021 (year-end September) to $15.3 billion. Despite this decline, the company endured a strong financial recovery in 2021 after the COVID-19 (coronavirus) pandemic. This recovery includes record new business in the healthcare and senior living and defense sectors. In addition, a strong recovery in education and sports and leisure is expected to propel the company’s revenue in fiscal 2022.
Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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