Compass Group, the world’s largest foodservice company, has reported operating profits for the third quarter well ahead of those for the same period last year, shrugging off concerns over rising food prices. The company said that it was confident about the full year, following a strong third quarter with global revenues increasing in line with the growth levels seen in the first six months. The group said that it had managed to offset some of the impact of higher input food and labour costs through driving cost efficiencies, including menu planning and labour scheduling, with the focus currently on cutting unit overheads. It is now believed to serve pollock instead of cod, for example. The UK, where the group is working on restructuring and simplifying its business processes, was the only area to see flat revenues and operating profits for the quarter. The firm, which operates in 62 countries, said that it was performing well across most regions, with Spain and the Nordic area the main drivers of improvement in its Continental European arm. In North America, Compass recorded revenue growth for the quarter at similar levels to those seen in the first six months of the year. The company said that it had benefited from its Management and Performance (MAP) strategy implemented two years ago Compass said: “We are performing well across our geographies as we continue to benefit from the operation focus provided by the MAP framework. “Our diversified and robust business model continues to give us confidence about the full year and the future potential of the business.” “As we outlined in May, we are continuing to simplify the business processes and are increasing our focus on generating quality revenue growth and improving our retention levels which will allow the business to move forward.” The company, which saw its shares fall nearly 3 pence to 342.5 pence, is set to report full-year results on 26 November.