U.S. News

Sodexho Reports Higher Sales, Confirms Guidance


Sodexho Alliance said nine-month sales were 10.22 billion euros ($13.9 billion), up from 9.87 billion euros a year earlier, although like-for-like growth eased to 7.8% from the first half's 8.2% amid a comparison with strong year-earlier figures.The sales figure was within the range expected by analysts.

The company confirmed its full-year guidance of organic sales growth above 7% and operating profit growth of around 12% excluding currency impact.

"In the US, the world's largest market for outsourcing, we have made remarkable progress, particularly in the high-potential segments of healthcare and education," CEO Michel Landel said.

He said Sodexho's early investments in Latin America and the Asia-Australia region are allowing the company to benefit from accelerating growth in these areas, particularly in China and India.

Sodexho's nine-month sales from food and facilities management activities totaled 9.9 billion euros, up from 9.6 billion euros a year earlier.

Sales from service vouchers and cards totaled 323 million euros, up from 273 million euros.