Q3 2023 Compass Group PLC Trading Statement Call Transcript
Good day, and welcome to today's Compass Group Third Quarter Trading Update Conference Call. This meeting is being recorded. At this time, I would like to (technical difficulty)
Good morning, everyone, and thank you for joining us. As usual, I'm here with Palmer, our CFO. We've had another good quarter with strong organic revenue growth of 15% and 21% year-to-date. This reflects net new business growth nicely balanced across all of our regions, the right levels of pricing and strong like-for-like volumes. And of course, this is despite lapping the full reopening of assets since last year.
Our client retention rate remains excellent at 96.7% and we have an exciting pipeline of new business opportunities across all of our regions. Despite persistent inflationary pressures, we're encouraged with our margin progress. Food inflation appears to have peaked and is easing in some regions, but we expect our basket of cost inflation to be above CPI and historic levels for some time to come. We're
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