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Sodexo posts solid results for first half of 2019 with ‘progressive’ growth in North America

Sodexo

Sodexo has posted its first half fiscal 2019 results, with ‘encouraging growth’ across a number of segments.

For the year ended February 28, 2019, the company saw operating profit increase 4.2%, with growth from both the onsite services and benefits & rewards sectors.

Revenue totalled $12,446 (€11,045), and increase of 7.3% on the previous year.

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KPIs for client retention, development and same site sales growth were all said to be ‘improving’.

In October 2018, Sodexo acquired Swiss high-end catering company, Novae Restauration, significantly enhancing the group presence in the country.

Sodexo CEO Denis Machuel said: “I am pleased with the progressive improvement in growth in North America, in Q1 and then in Q2. Steady progress is being made by the new Health Care North America team in reasserting discipline and accountability throughout the organization. We are also achieving strong growth in Brazil both in the Benefits & Rewards business as well as Onsite, helped by an improving economic environment.

“We maintain our guidance both in top line organic growth and underlying operating profit margin.”

Other operating income and expenses amounted to 69 million euro, down from 73 million euro last year.

Tags : financialSodexo
Zoe Monk

The author Zoe Monk

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