Sodexo (SDXAY.PK) said its first-half group net income was up to 297 million euros from 252 million euros last year.
Consolidated revenues grew 9.7% year-over-year to 9.07 billion euros, reflecting solid organic growth of 6.4%, a 3.9% increase related to acquisitions and changes in consolidation scope, and a negative currency impact of 0.6%.
Commenting on the results, CEO Michel Landel said,
"Our first half results are solid, demonstrating the relevance of Sodexo's strategy and Quality of Life services offer, illustrated by the major contract wins of the past several months. Organic growth is increasing, driven by development of more than 10% in our Facilities Management services and in our Motivation Solutions activity.
In a tough economic environment, our teams are fully mobilized to provide clients the innovation and productivity they expect.
We are maintaining our full year Fiscal 2012 objectives of an increase of around 10% in operating profit based on organic revenue growth of between 6% and 7%, with acquisitions also impacting revenues by around 4%."
In the medium term, Sodexo confirmed its objective of achieving annual average consolidated revenue growth of 7% and targets a consolidated operating margin of 6.3% for the end of fiscal 2015.
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by RTT Staff Writer
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