Compass cooks up a storm in canteens
The British group - which owns brands like Little Chef, Upper Crust and Ritazza - had issued a profit warning after the US attacks as did its biggest competitor, France's Sodexho Alliance.
But pre-tax profits of £583m for the year to September, at the higher end of analysts expectations, though comparisons are difficult because of Compass' complex demerger from media group Granada.
In October, the company warned the 11 September attacks, and subsequent postponement of events such as the Ryder Cup golf tournament, would cut its profits by about £5m for the year ending September.
The group also reaffirmed earlier sales forecasts.
"We remain confident that Compass Group will continue to perform well, achieving market share gains that will drive organic sales growth within our target range of between 6% and 9% in 2002," said chief executive Michael Bailey in a statement.
Points of the compass
Compass was floated off from Granada in February, taking with it the catering and hotel businesses, leaving Granada as a pure media company.
Compass then sold of the hotel side for £3.26bn, which it used to expand its core catering business.
With the results, it announced the acquisition of Japanese foodservice group Seiyo Food Systems for £193m and a 10-year contract for British Airways.
Shares had fallen to a low of 398.5p after the US attacks, but have since recovered to over 480p.
Compass Group has over 270,000 employees working in more than 90 countries providing food services and hospitality.