Casual Dining & Contract Catering Sector

Sysco Foods Ireland sustains €78m Covid hit to revenue

The Irish Times – 31.05.2022

Limerick-based food service wholesaler Sysco Foods Ireland last year sustained a €78 million hit to revenue due to the Covid-19 pandemic. Accounts filed for the Newcastle West-based Sysco Foods Ireland Unlimited show that the business – formerly Pallas Foods – recorded a pretax loss of €8.8 million in the 12 months to July 3rd last as the business grappled with the impact of Covid-19. The US owned business – which changed its name to Sysco Ireland on May 10th last year – supplies food to thousands of hotels, shops, restaurants and pubs here along with healthcare and educational facilities and the figures show revenue fell by €78 million or 24 per cent from €326.4 million to €248.39 million.The directors said the company had focused on sales to existing customers while operating in an industry that had been severely impacted by the Covid-19 global pandemic.

Caterer Compass Boosted by Post-Pandemic return to work

Hospitality Ireland – 19.05.2022

Compass Group PLC, the world's largest caterer, has raised its full-year revenue forecast as it benefitted from offices reopening after the COVID-19 pandemic. Compass, which feeds office workers, the armed forces and school children in 45 countries, as well as provides catering for sporting events, such as Wimbledon, raised its 2022 organic revenue growth forecast to approximately 30% from 20%-25%. Compass has benefited from more companies outsourcing their catering to reduce costs, Chief Executive Dominic Blakemore said in an interview. It has also reduced menu choices and switched to cheaper ingredients.